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Spirit Realty Capital, Inc.
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Spirit Realty, L.P.
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Spirit Realty Capital, Inc.
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Spirit Realty, L.P.
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(State or other jurisdiction of
incorporation or organization)
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(I.R.S. Employer
Identification Number)
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(
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(Address of principal executive offices; zip code)
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(Registrant’s telephone number, including area code)
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Title of each class
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Trading Symbol(s)
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Name of exchange on which registered
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Preferred Stock, $0.01 par value per share |
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Spirit Realty Capital, Inc.
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None
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Spirit Realty, L.P.
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None
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☒
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Accelerated filer |
☐
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Non-accelerated filer
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☐
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Smaller reporting company |
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Emerging growth company
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Large accelerated filer
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☐
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Accelerated filer |
☐
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☒
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Smaller reporting company |
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Emerging growth company
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•
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enhancing investors’ understanding of our Company and Operating Partnership by enabling investors to view the business as a whole, reflective of how management views and operates the business;
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•
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eliminating duplicative disclosure and providing a streamlined presentation as a substantial portion of the disclosures apply to both our Company and Operating Partnership; and
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•
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creating time and cost efficiencies by preparing one combined report in lieu of two separate reports.
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1031 Exchange
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Tax-deferred
like-kind exchange of properties held for business or investment purposes, pursuant to Section 1031 of the Code
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2015 Credit Agreement
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Revolving credit facility agreement between the Operating Partnership and certain lenders dated March 31, 2015, as amended or otherwise modified from time to time
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2015 Credit Facility
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$800.0 million unsecured credit facility pursuant to the 2015 Credit Agreement
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2015 Term Loan
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$420.0 million senior unsecured term facility pursuant to the 2015 Term Loan Agreement
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2015 Term Loan Agreement
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Term loan agreement between the Operating Partnership and certain lenders dated November 3, 2015, as amended or otherwise modified from time to time
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2016 ATM Program
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At the market equity distribution program established in November 2016, which was terminated upon entry into the 2020 ATM Program
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2017 Tax Legislation
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Tax Cuts and Jobs Act of 2017
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2019 Credit Facility
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$800.0 million unsecured revolving credit facility pursuant to the 2019 Revolving Credit and Term Loan Agreement
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2019 Facilities Agreements
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2019 Revolving Credit and Term Loan Agreement and
A-2
Term Loan
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2019 Notes
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$402.5 million convertible notes of the Corporation due in 2019
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2019 Revolving Credit and Term Loan Agreement
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Revolving credit and term loan agreement between the Operating Partnership and certain lenders dated January 14, 2019, as amended or otherwise modified from time to time
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2020 ATM Program
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At the market equity distribution program established in November 2020, pursuant to which the Corporation may offer and sell registered shares of common stock from time to time
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2020 Term Loans
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$400.0 million senior unsecured term facility pursuant to the 2020 Term Loan Agreement
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2020 Term Loan Agreement
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Term loan agreement between the Operating Partnership and certain lenders dated April 2, 2020, as amended or otherwise modified from time to time
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2021 Notes
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$345.0 million convertible notes of the Corporation due in 2021
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2026 Senior Notes
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$300.0 million aggregate principal amount of senior notes issued in August 2016
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2027 Senior Notes
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$300.0 million aggregate principal amount of senior notes issued in September 2019
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2029 Senior Notes
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$400.0 million aggregate principal amount of senior notes issued in June 2019
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2030 Senior Notes
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$500.0 million aggregate principal amount of senior notes issued in September 2019
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2031 Senior Notes
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$450.0 million aggregate principal amount of senior notes issued in August 2020
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401(k) Plan
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Defined contribution retirement savings plan qualified under Section 401(k) of the Code
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A-1
Term Loans
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$420.0 million unsecured term loan facility pursuant to the 2019 Revolving Credit and Term Loan Agreement
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A-2
Term Loans
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$400.0 million unsecured term loan facility pursuant to a term loan agreement between the Operating Partnership and certain lenders dated January 14, 2019, as amended or otherwise modified from time to time
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ACM
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Asbestos-Containing Materials
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ADA
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Americans with Disabilities Act
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Adjusted Debt
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Adjusted Debt is a
non-GAAP
financial measure. See definition in Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations.
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Adjusted EBITDA
re
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Adjusted EBITDA
re
non-GAAP
financial measure. See definition in Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations.
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AFFO
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Adjusted Funds From Operations. See definition in Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations.
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Amended Incentive Award Plan
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Amended and Restated Spirit Realty Capital, Inc. and Spirit Realty, L.P. 2012 Incentive Award Plan, as amended
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Annualized Base Rent (ABR)
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Represents Base Rent and earned income from direct financing leases from the final month of the reporting period, adjusted to exclude amounts from properties sold during that period and to include a full month of rental income for properties acquired during that period. The total is then multiplied by 12. We use ABR when calculating certain metrics that are useful to evaluate portfolio credit and diversification and to manage risk.
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AOCL
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Accumulated Other Comprehensive Loss
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ASC
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Accounting Standards Codification
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Asset Management Agreement
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Asset Management Agreement between Spirit Realty, L.P. and Spirit MTA REIT dated May 31, 2018 and subsequently assigned by Spirit Realty, L.P. to Spirit Realty AM Corporation on April 1, 2019
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ASU
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Accounting Standards Update
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ATM Program
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The 2016 ATM Program or the 2020 ATM Program, as applicable
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Base Cash Rent
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Represents Base Rent reduced for amounts abated and rent deemed not probable of collection.
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Base Rent
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Represents contractual rental income for the period, prior to deferral and abatement agreements, and excluding contingent rents. We use Base Rent to monitor cash collection and to evaluate past due receivables.
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CMBS
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Commercial Mortgage-Backed Securities
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Code
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Internal Revenue Code of 1986, as amended
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Company
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The Corporation and its consolidated subsidiaries
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Convertible Notes
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The 2019 Notes and 2021 Notes, together
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Corporation
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Spirit Realty Capital, Inc., a Maryland corporation
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CPI
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Consumer Price Index
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EBITDA
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Earnings Before Interest, Taxes, Depreciation and Amortization
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EBITDA
re
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EBITDA
re
non-GAAP
financial measure and is computed in accordance with standards established by NAREIT. See definition in Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations.
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Exchange Act
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Securities Exchange Act of 1934, as amended
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FASB
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Financial Accounting Standards Board
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FFO
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Funds From Operations. See definition in Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations.
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GAAP
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Generally Accepted Accounting Principles in the United States
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Interim Management Agreement
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Interim Management Agreement between Spirit Realty AM Corporation, a wholly-owned subsidiary of the Company, and Spirit MTA REIT dated June 2, 2019 and effective September 20, 2019
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IPO
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Initial Public Offering
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IRS
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Internal Revenue Service
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LIBOR
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London Interbank Offered Rate
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Master Trust 2013
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The
net-lease
mortgage securitization trust established in December 2013
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Master Trust 2014
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The
net-lease
mortgage securitization trust established in 2005 and amended and restated in 2014
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Master Trust Notes
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Master Trust 2013 and Master Trust 2014, together
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Master Trust Release
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Proceeds from the sale of assets securing the Master Trust Notes held in restricted accounts until a qualifying substitution is made or until used for principal reduction
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MGCL
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Maryland General Corporation Law
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NAREIT
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National Association of Real Estate Investment Trusts
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NYSE
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New York Stock Exchange
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OP Holdings
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Spirit General OP Holdings, LLC
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Operating Partnership
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Spirit Realty, L.P., a Delaware limited partnership
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Porter’s Five Forces
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An analytical framework used to examine the attractiveness of an industry and potential for disruption in that industry based on: threats of new entrants, threats of substitutes, the bargaining power of customers, the bargaining power of suppliers and industry rivalry
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Property Management and Servicing Agreement
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Second amended and restated agreement governing the management services and special services provided to Master Trust 2014 by Spirit Realty, L.P., dated as of May 20, 2014, as amended, supplemented, amended and restated or otherwise modified
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REIT
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Real estate investment trust
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S&P
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S&P’s Global Ratings
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SEC
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Securities and Exchange Commission
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Securities Act
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Securities Act of 1933, as amended
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Senior Unsecured Notes
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2026 Senior Unsecured Notes, 2027 Senior Unsecured Notes, 2029 Senior Unsecured Notes, 2030 Senior Unsecured Notes and 2031 Senior Unsecured Notes, collectively
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Series A Preferred Stock
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6,900,000 shares of 6.000% Cumulative Redeemable Preferred Stock issued October 3, 2017, with a liquidation preference of $25.00 per share.
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Shopko
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Specialty Retail Shops Holding Corp. and certain of its affiliates
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SMTA
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Spirit MTA REIT, a Maryland real estate investment trust, or SMTA Liquidating Trust, a Maryland common law trust, as the context dictates. On January 1, 2020, Spirit MTA REIT transferred all of its assets (subject to all of its liabilities) to SMTA Liquidating Trust.
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Spin-Off
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Creation of an independent, publicly traded REIT, SMTA, through our contribution of properties leased to Shopko, assets that collateralize Master Trust 2014 and other additional assets to SMTA followed by the distribution by us to our stockholders of all of the common shares of beneficial interest in SMTA.
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SubREIT
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Spirit MTA SubREIT, Inc., previously a wholly-owned subsidiary of SMTA. SubREIT was dissolved on October 1, 2019.
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Spirit Heat Map
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An analysis of industries across Porter’s Five Forces and potential causes of technological disruption to identify tenant industries which Spirit believes to have good fundamentals for future performance
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Spirit Property Ranking Model
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A proprietary model used annually to rank properties across twelve factors and weightings consisting of both real estate quality scores and credit underwriting criteria, in order to benchmark property quality, identify asset recycling opportunities and to enhance acquisition or disposition decisions
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TRS
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Taxable REIT subsidiary, which is a corporation, other than a REIT, in which a REIT directly or indirectly holds stock and that has made a joint election with such REIT to be treated as a taxable REIT subsidiary and meets certain other requirements
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TSR
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Total Shareholder Return
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Item 1.
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7
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Item 1A.
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13
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Item 1B.
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28
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Item 2.
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29
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Item 3.
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31
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Item 4.
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31
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Item 5.
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32
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Item 6.
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34
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Item 7.
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35
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Item 7A.
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52
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Item 8.
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53
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Item 9.
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110
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Item 9A.
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110
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Item 9B.
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111
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Item 10.
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111
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Item 11.
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111
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Item 12.
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111
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Item 13.
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112
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Item 14.
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112
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Item 15.
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113
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Item 16.
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117
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171
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| • |
industry and economic conditions;
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| • |
volatility and uncertainty in the financial markets, including potential fluctuations in the CPI;
|
| • |
our success in implementing our business strategy and our ability to identify, underwrite, finance, consummate, integrate and manage diversifying acquisitions or investments;
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| • |
the financial performance of our retail tenants and the demand for retail space, particularly with respect to challenges being experienced by general merchandise retailers;
|
| • |
our ability to diversify our tenant base;
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| • |
the nature and extent of future competition;
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| • |
increases in our costs of borrowing as a result of changes in interest rates and other factors;
|
| • |
our ability to access debt and equity capital markets;
|
| • |
our ability to pay down, refinance, restructure and/or extend our indebtedness as it becomes due;
|
| • |
our ability and willingness to renew our leases upon expiration and to reposition our properties on the same or better terms upon expiration in the event such properties are not renewed by tenants or we exercise our rights to replace existing tenants upon default;
|
| • |
the impact of any financial, accounting, legal or regulatory issues or litigation that may affect us or our major tenants;
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| • |
our ability to manage our expanded operations;
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| • |
our ability and willingness to maintain our qualification as a REIT;
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| • |
the impact on our business and those of our tenants from epidemics, pandemics or other outbreaks of illness, disease or virus (such as the strain of coronavirus known as
COVID-19);
and
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| • |
other risks inherent in the real estate business, including tenant defaults, potential liability relating to environmental matters, illiquidity of real estate investments and potential damages from natural disasters.
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Item 1.
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Business
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STRONG OPERATING SYSTEMS
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| o |
Spirit Property Ranking Model.
5-mile
population, (iv) remaining lease term, (v)
5-mile
house-hold income,
(vi) pre-overhead
unit coverage,
(vii) pre-overhead
master lease coverage, (viii) corporate coverage, (ix) U.S. State ranking, (x) rent escalation characteristics, (xi) lease structure and (xii) tenant industry ranking. We believe that the higher the overall score assigned to a property, the lower the risk of a residual loss given a tenant default. Through acquisitions, dispositions, lease renewals and
re-lets,
we seek to continually improve the weighted-average property ranking of our portfolio.
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| o |
The Spirit Heat Map.
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| o |
Spirit Business Intelligence Tools.
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OUTSTANDING PEOPLE
|
| o |
Talent acquisition and development.
|
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process which includes multiple levels of interviews, cultural surveys, and technical skill testing, when appropriate, to ensure candidates will be an appropriate fit.
|
| o |
Diversity and inclusion.
|
| o |
Employee wellness.
(sit-stand
desks, ergonomic chairs, healthy snack options, maximized natural light in all workspaces, designated creative and collaborative workspaces). In response to the
COVID-19
pandemic, we took a number of actions to ensure the health and safety of our employees, including enabling all employees to work from home, enhancing safety measures in our offices for voluntary return to office (including increasing cleaning and sanitizing procedures, temperature screening upon entering the office, providing personal protective equipment, installing plexiglass wellness screens and initiating social distancing measures), and instituted a special
COVID-19
pandemic leave policy for illness or caretaking.
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| o |
Workplace culture.
best-in-class
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DEFINED AND DISCIPLINED INVESTMENT STRATEGY
|
| o |
Sourcing acquisitions.
|
| o |
Evaluating acquisitions.
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While we consider the foregoing when making investments, we have made investments that do not meet one or more of these criteria, and we may make additional investments that do not meet one or more of these criteria if we believe the opportunity is sufficiently attractive. Acquisition opportunities go through a rigorous evaluation process culminating in review and approval by our Investment Committee. The Investment Committee includes representation from the acquisitions, asset management, credit, legal and finance departments.
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| o |
Evaluating tenant credit.
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HIGH-QUALITY PORTFOLIO
|
| o |
Diverse and granular portfolio.
non-investment
grade rated tenants with 51.0% of our ABR from public issuers. See Item 2. “Properties - Our Real Estate Investment Portfolio” for further information on our portfolio composition as of December 31, 2020.
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| o |
Leases for operationally essential real estate.
|
| o |
Leases with contractual rental growth.
|
| o |
Leases with relatively long terms.
non-cancellable
initial terms of 10 to 20 years and tenant renewal options for additional terms with attractive rent escalation provisions. As of December 31, 2020, our weighted average remaining lease term based on ABR was 10.1 years.
|
| o |
Leases with a master lease structure.
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FORTRESS BALANCE SHEET
|
| o |
Issuance of common stock.
|
| o |
Issuance of debt securities.
|
| o |
Cash provided by operations.
re-leasing
costs, and cash distributions to common and preferred stockholders, primarily through cash provided by operating activities and borrowings under our available credit facilities.
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| • |
inability to collect rent from tenants due to financial hardship, including bankruptcy;
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| • |
changes in local real estate markets resulting in the lack of availability or demand for single-tenant retail space;
|
| • |
changes in consumer trends and preferences that reduce the demand for products/services of our tenants;
|
| • |
inability to lease or sell properties upon expiration or termination of existing leases;
|
| • |
environmental risks related to the presence of hazardous or toxic substances or materials on our properties;
|
| • |
subjectivity of real estate valuations and changes in such valuations over time;
|
| • |
illiquid nature of real estate compared to most other financial assets;
|
| • |
changes in laws and regulations, including those governing real estate usage and zoning;
|
| • |
changes in interest rates and the availability of financing; and
|
| • |
changes in the general economic and business climate.
|
| • |
the financial condition and viability of our tenants – many of which are in retail industries – and their ability or willingness to pay rent in full on a timely basis;
|
| • |
state, local, federal and industry-initiated efforts that may adversely affect landlords, including us, and their ability to collect rent and/or enforce remedies for the failure to pay rent;
|
| • |
our need to restructure leases with our tenants and our ability to do so on favorable terms or at all;
|
| • |
our ability to renew leases or
re-lease
available space in our properties on favorable terms or at all in the event of nonrenewal or in the event we exercise our right to replace an existing tenant, and obligations we may incur in connection with the replacement of an existing tenant;
|
| • |
a severe and prolonged disruption and instability in the global financial markets may affect our or our tenants’ ability to access capital necessary to fund our respective business operations or retire, replace or renew maturing liabilities on a timely basis, on attractive terms or at all and may adversely affect the valuation of financial assets and liabilities;
|
| • |
a refusal or failure of one or more lenders under the 2019 Revolving Credit and Term Loan Agreement to fund their respective financing commitment to us;
|
| • |
the broader impact of the severe economic contraction due to the
COVID-19
pandemic and restrictions intended to prevent its spread, the resulting increase in unemployment that has occurred and its effect on consumer behavior, and negative consequences that will occur if these trends are not timely reversed;
|
| • |
disruptions in our tenants’ supply chains or delays in the delivery of products, services or other materials necessary for their operations, which could force our tenants’ to reduce, delay or eliminate offerings of their products and services, reduce or eliminate their revenues and liquidity and/or result in their bankruptcy or insolvency;
|
| • |
the further utilization of
e-commerce
in certain industries as a result of the temporary closure of many retail properties, which may lead to the closure of underperforming properties by retailers;
|
| • |
our and our tenants’ ability to manage our respective businesses to the extent our and their management or personnel (including
on-site
employees) are impacted in significant numbers by the
COVID-19
pandemic and are otherwise not willing, available or allowed to conduct work; and
|
| • |
our and our tenants’ ability to ensure business continuity in the event our continuity of operations plan is not effective or improperly implemented or deployed during the
COVID-19
pandemic.
|
| • |
competition from other real estate investors, including REITs and institutional investment funds, which may be able to accept more risk, including higher acquisition prices, than we can prudently manage;
|
| • |
competition from other real estate investors across our acquisition sourcing channels (including brokers, existing tenant relationships, prospective tenant relationships, etc.) that may significantly reduce our acquisition volume or increase the purchase price for a property we acquire;
|
| • |
financing for an acquisition may not be available on favorable terms or at all for potential acquisitions;
|
| • |
significant costs and management attention diverted to evaluate and negotiate potential acquisitions, including ones that we may not subsequently complete;
|
| • |
acquisition of properties that are not and may not become accretive to our results;
|
| • |
cash flow from an acquired property may be insufficient to meet our required principal and interest payments with respect to debt used to finance the acquisition of such property;
|
| • |
necessary improvements or renovations to acquired properties may exceed budgeted amounts;
|
| • |
market conditions may result in higher than expected vacancy rates and lower than expected rental rates; or
|
| • |
properties acquired may be subject to liabilities and without any recourse, or with only limited recourse, with respect to unknown liabilities such as
clean-up
of undisclosed environmental contamination or claims by tenants, vendors or other persons dealing with the former owners of the properties.
|
| • |
broad market fluctuations unrelated to our or our competitors’ operating performances;
|
| • |
actual or anticipated variations in our or our competitors’ quarterly operating results or distributions;
|
| • |
publication of research reports about us, our competitors or the real estate industry;
|
| • |
market reaction to any additional indebtedness we incur or debt or equity securities we issue in the future;
|
| • |
additions or departures of key management personnel;
|
| • |
changes in our credit ratings;
|
| • |
the financial condition, performance and prospects of our tenants;
|
| • |
changes in market interest rates in comparison to the distribution yield on shares of our common stock; and
|
| • |
the realization of any of the other risk factors presented in this Annual Report on Form
10-K.
|
|
• our knowledge of the contamination;
• the timing of the contamination;
|
• the cause of the contamination; or
• the party responsible for the contamination of the property.
|
| • |
our cash flow may be insufficient to meet our required principal and interest payments;
|
| • |
cash interest expense and financial covenants relating to our indebtedness may limit or eliminate our ability to make distributions to our common stockholders;
|
| • |
we may be unable to borrow additional funds as needed or on favorable terms, which could, among other things, adversely affect our ability to capitalize upon acquisition opportunities or meet operational needs;
|
| • |
we may be unable to refinance our indebtedness at maturity or the refinancing terms may be less favorable than the terms of our original indebtedness;
|
| • |
increases in interest rates could increase our interest expense for our variable interest rate debt;
|
| • |
we may be unable to hedge floating rate debt, counterparties may fail to honor their obligations under any hedge agreements we enter into, such agreements may not effectively hedge interest rate fluctuation risk, and, upon the expiration of any hedge agreements we enter into, we would be exposed to then-existing market rates of interest and future interest rate volatility;
|
| • |
we may be forced to dispose of properties, possibly on unfavorable terms or in violation of certain covenants to which we may be subject;
|
| • |
we may default on our obligations and the lenders may foreclose on our properties or our interests in the entities that own the properties that secure their loans and receive an assignment of rents and leases;
|
| • |
we may be restricted from accessing some of our excess cash flow after debt service if certain of our tenants fail to meet certain financial performance metric thresholds;
|
| • |
we may violate restrictive covenants in our loan documents, which would entitle the lenders to accelerate our debt obligations; and
|
| • |
our default under any loan with cross-default provisions could result in a default on other indebtedness.
|
| • |
discourage a tender offer or other transactions or a change in management or of control that might involve a premium price for our common stock or that our stockholders otherwise believe to be in their best interests; or
|
| • |
result in the transfer of shares acquired in excess of the restrictions to a trust for the benefit of a charitable beneficiary and, as a result, the forfeiture by the acquirer of the benefits of owning the additional shares.
|
| • |
“business combination” provisions that, subject to certain limitations, prohibit certain business combinations between us and an “interested stockholder” (defined generally as any person who beneficially owns 10% or
|
|
more of the voting power of our shares or of an affiliate of ours or an affiliate or associate of ours who was the beneficial owner, directly or indirectly, of 10% or more of the voting power of our then outstanding voting stock at any time within a
two-year
period immediately prior to the date in question) or any affiliate of an interested stockholder for five years after the most recent date on which the stockholder becomes an interested stockholder, and thereafter impose fair price and/or super-majority and stockholder voting requirements on these combinations; and
|
| • |
“control share” provisions that provide that a holder of “control shares” of our Company (defined as shares that, when aggregated with other shares controlled by the stockholder, entitle the stockholder to exercise one of three increasing ranges of voting power in electing directors) acquired in a “control share acquisition” (defined as the direct or indirect acquisition of ownership or control of outstanding “control shares”) has no voting rights with respect to those shares except to the extent approved by our stockholders by the affirmative vote of at least
two-thirds
of all the votes entitled to be cast on the matter, excluding all interested shares.
|
| • |
actual receipt of an improper benefit or profit in money, property or services; or
|
| • |
active and deliberate dishonesty by the director or officer that was established by a final judgment as being material to the cause of action adjudicated.
|
| • |
we would not be allowed a deduction for distributions to stockholders in computing our taxable income and would be subject to regular U.S. federal corporate income tax;
|
| • |
we could be subject to the federal alternative minimum tax for tax years prior to 2018 and increased state and local taxes; and
|
| • |
unless we are entitled to relief under applicable statutory provisions, we could not elect to be taxed as a REIT for four taxable years following the year during which we were disqualified.
|
|
1,860
|
99.6%
|
48
|
301
|
28
|
||||
|
Owned Properties
|
Occupancy
|
States
|
Tenants
|
Retail Industries
|
|
Tenant
(1)
|
Number of
Properties
|
Total
Square Feet
(in thousands)
|
Percent of
ABR |
|||||||||
|
Life Time Fitness, Inc.
|
|
7
|
|
|
685
|
|
|
3.0
|
%
|
|||
|
Cajun Global LLC
|
|
163
|
|
|
234
|
|
|
2.5
|
%
|
|||
|
BJ’s Wholesale Club, Inc.
|
|
8
|
|
|
912
|
|
|
2.2
|
%
|
|||
|
The Home Depot, Inc.
|
|
7
|
|
|
848
|
|
|
2.2
|
%
|
|||
|
At Home Group, Inc.
|
|
13
|
|
|
1,597
|
|
|
2.2
|
%
|
|||
|
Alimentation Couche-Tard, Inc.
|
|
76
|
|
|
230
|
|
|
2.1
|
%
|
|||
|
Walgreen Co.
|
|
34
|
|
|
487
|
|
|
2.0
|
%
|
|||
|
GPM Investments, LLC
|
|
110
|
|
|
304
|
|
|
2.0
|
%
|
|||
|
Dollar Tree, Inc.
|
|
106
|
|
|
927
|
|
|
1.9
|
%
|
|||
|
CVS Caremark Corporation
|
|
33
|
|
|
409
|
|
|
1.7
|
%
|
|||
|
Other
|
|
1,296
|
|
|
33,405
|
|
|
78.2
|
%
|
|||
|
Vacant
|
|
7
|
|
|
641
|
|
|
—
|
|
|||
|
Total
|
|
1,860
|
|
|
40,679
|
|
|
100.0
|
%
|
|||
| (1) |
Tenants represent legal entities ultimately responsible for obligations under the lease agreements or affiliated entities. Other tenants may operate the same or similar business concepts or brands as those set forth above.
|
|
Leases Expiring In:
|
Number of
Properties
|
ABR
(in thousands)
(1)
|
Total Square
Feet
(in thousands)
|
Percent of
ABR
|
||||||||||||
|
2021
|
|
47
|
|
$
|
13,028
|
|
|
1,363
|
|
|
2.6
|
%
|
||||
|
2022
|
|
40
|
|
|
16,548
|
|
|
1,599
|
|
|
3.2
|
%
|
||||
|
2023
|
|
113
|
|
|
32,049
|
|
|
3,034
|
|
|
6.3
|
%
|
||||
|
2024
|
|
47
|
|
|
17,916
|
|
|
1,557
|
|
|
3.5
|
%
|
||||
|
2025
|
|
52
|
|
|
19,334
|
|
|
1,517
|
|
|
3.8
|
%
|
||||
|
2026
|
|
108
|
|
|
38,149
|
|
|
3,724
|
|
|
7.5
|
%
|
||||
|
2027
|
|
131
|
|
|
40,635
|
|
|
2,984
|
|
|
8.0
|
%
|
||||
|
2028
|
|
106
|
|
|
28,727
|
|
|
1,798
|
|
|
5.6
|
%
|
||||
|
2029
|
|
320
|
|
|
42,692
|
|
|
2,836
|
|
|
8.4
|
%
|
||||
|
2030
|
|
77
|
|
|
22,022
|
|
|
2,220
|
|
|
4.3
|
%
|
||||
|
Thereafter
|
|
812
|
|
|
238,516
|
|
|
17,406
|
|
|
46.8
|
%
|
||||
|
Vacant
|
|
7
|
|
|
—
|
|
|
641
|
|
|
—
|
|
||||
|
Total owned properties
|
|
1,860
|
|
$
|
509,616
|
|
|
40,679
|
|
|
100
|
%
|
||||
| (1) |
ABR is not adjusted for the impact of abatements provided as relief due to the
COVID-19
pandemic. As of the date of this report, SRC has agreed to a total of $1.0 million of abatements for the period from January 1, 2021 - December 31, 2021.
|
|
Location
|
Number of
Properties
|
Total Square
Feet
(in thousands)
|
Percent of
ABR
|
Location (continued)
|
Number of
Properties
|
Total Square
Feet
(in thousands)
|
Percent of
ABR
|
|||||||||||||||||||
|
Texas
|
|
247
|
|
|
4,413
|
|
|
11.1
|
%
|
New Jersey
|
|
13
|
|
|
717
|
|
|
1.3
|
%
|
|||||||
|
Florida
|
|
154
|
|
|
2,533
|
|
|
8.8
|
%
|
Utah
|
|
18
|
|
|
333
|
|
|
1.2
|
%
|
|||||||
|
Georgia
|
|
138
|
|
|
2,583
|
|
|
6.8
|
%
|
Pennsylvania
|
|
20
|
|
|
483
|
|
|
1.1
|
%
|
|||||||
|
Ohio
|
|
86
|
|
|
2,396
|
|
|
5.1
|
%
|
Alaska
|
|
9
|
|
|
319
|
|
|
1.0
|
%
|
|||||||
|
California
|
|
23
|
|
|
1,199
|
|
|
4.2
|
%
|
New Hampshire
|
|
17
|
|
|
645
|
|
|
1.0
|
%
|
|||||||
|
Tennessee
|
|
107
|
|
|
1,846
|
|
|
4.0
|
%
|
Wisconsin
|
|
12
|
|
|
696
|
|
|
0.9
|
%
|
|||||||
|
Michigan
|
|
86
|
|
|
1,700
|
|
|
3.9
|
%
|
Idaho
|
|
16
|
|
|
273
|
|
|
0.9
|
%
|
|||||||
|
Illinois
|
|
52
|
|
|
1,295
|
|
|
3.8
|
%
|
Kansas
|
|
17
|
|
|
341
|
|
|
0.8
|
%
|
|||||||
|
New York
|
|
33
|
|
|
1,924
|
|
|
3.5
|
%
|
Connecticut
|
|
5
|
|
|
686
|
|
|
0.7
|
%
|
|||||||
|
Missouri
|
|
67
|
|
|
1,552
|
|
|
3.2
|
%
|
Maine
|
|
27
|
|
|
85
|
|
|
0.5
|
%
|
|||||||
|
Arizona
|
|
47
|
|
|
835
|
|
|
2.9
|
%
|
Washington
|
|
7
|
|
|
125
|
|
|
0.4
|
%
|
|||||||
|
South Carolina
|
|
55
|
|
|
852
|
|
|
2.9
|
%
|
West Virginia
|
|
13
|
|
|
202
|
|
|
0.4
|
%
|
|||||||
|
North Carolina
|
|
68
|
|
|
1,312
|
|
|
2.7
|
%
|
Delaware
|
|
2
|
|
|
128
|
|
|
0.4
|
%
|
|||||||
|
Alabama
|
|
94
|
|
|
715
|
|
|
2.5
|
%
|
Nebraska
|
|
8
|
|
|
218
|
|
|
0.4
|
%
|
|||||||
|
Virginia
|
|
44
|
|
|
1,335
|
|
|
2.5
|
%
|
Montana
|
|
3
|
|
|
152
|
|
|
0.4
|
%
|
|||||||
|
Maryland
|
|
10
|
|
|
721
|
|
|
2.4
|
%
|
Massachusetts
|
|
2
|
|
|
131
|
|
|
0.4
|
%
|
|||||||
|
Minnesota
|
|
24
|
|
|
902
|
|
|
2.2
|
%
|
Iowa
|
|
11
|
|
|
190
|
|
|
0.3
|
%
|
|||||||
|
Colorado
|
|
27
|
|
|
991
|
|
|
2.0
|
%
|
North Dakota
|
|
3
|
|
|
105
|
|
|
0.3
|
%
|
|||||||
|
Oklahoma
|
|
54
|
|
|
935
|
|
|
2.0
|
%
|
Rhode Island
|
|
3
|
|
|
95
|
|
|
0.3
|
%
|
|||||||
|
Mississippi
|
|
53
|
|
|
753
|
|
|
2.0
|
%
|
Oregon
|
|
3
|
|
|
105
|
|
|
0.3
|
%
|
|||||||
|
Indiana
|
|
39
|
|
|
1,517
|
|
|
1.9
|
%
|
South Dakota
|
|
2
|
|
|
30
|
|
|
0.2
|
%
|
|||||||
|
New Mexico
|
|
29
|
|
|
622
|
|
|
1.8
|
%
|
Wyoming
|
|
1
|
|
|
35
|
|
|
0.1
|
%
|
|||||||
|
Kentucky
|
|
43
|
|
|
538
|
|
|
1.6
|
%
|
U.S. Virgin Islands
|
|
1
|
|
|
38
|
|
|
0.1
|
%
|
|||||||
|
Arkansas
|
|
42
|
|
|
637
|
|
|
1.4
|
%
|
Vermont
|
|
1
|
|
|
2
|
|
|
*
|
|
|||||||
|
Louisiana
|
|
24
|
|
|
439
|
|
|
1.4
|
%
|
|
|
|
|
|
|
|
|
|
|
|||||||
|
*
|
Less than 0.1%
|
|
Asset Type
|
Tenant Industry
|
Number of
Properties
|
Total
Square Feet
(in thousands)
|
Percent of
ABR
|
||||||||||
|
Retail
|
|
1,660
|
|
|
26,059
|
|
|
77.9
|
%
|
|||||
|
Health and Fitness
|
|
44
|
|
|
2,329
|
|
|
7.7
|
%
|
|||||
|
Convenience Stores
|
|
329
|
|
|
1,046
|
|
|
7.6
|
%
|
|||||
|
Restaurants - Quick Service
|
|
361
|
|
|
791
|
|
|
6.4
|
%
|
|||||
|
Restaurants - Casual Dining
|
|
134
|
|
|
940
|
|
|
5.8
|
%
|
|||||
|
Movie Theaters
|
|
37
|
|
|
1,953
|
|
|
5.1
|
%
|
|||||
|
Dealerships
|
|
29
|
|
|
953
|
|
|
4.4
|
%
|
|||||
|
Drug Stores / Pharmacies
|
|
77
|
|
|
991
|
|
|
4.4
|
%
|
|||||
|
Entertainment
|
|
24
|
|
|
1,022
|
|
|
3.4
|
%
|
|||||
|
Car Washes
|
|
65
|
|
|
308
|
|
|
3.2
|
%
|
|||||
|
Dollar Stores
|
|
172
|
|
|
1,576
|
|
|
3.1
|
%
|
|||||
|
Grocery
|
|
36
|
|
|
1,654
|
|
|
3.0
|
%
|
|||||
|
Home Improvement
|
|
14
|
|
|
1,595
|
|
|
2.9
|
%
|
|||||
|
Warehouse Club and Supercenters
|
|
14
|
|
|
1,543
|
|
|
2.8
|
%
|
|||||
|
Home Décor
|
|
16
|
|
|
2,147
|
|
|
2.7
|
%
|
|||||
|
Specialty Retail
|
|
53
|
|
|
1,142
|
|
|
2.3
|
%
|
|||||
|
Sporting Goods
|
|
18
|
|
|
1,026
|
|
|
2.2
|
%
|
|||||
|
Automotive Service
|
|
69
|
|
|
578
|
|
|
2.2
|
%
|
|||||
|
Department Stores
|
|
15
|
|
|
1,334
|
|
|
1.9
|
%
|
|||||
|
Home Furnishings
|
|
18
|
|
|
783
|
|
|
1.7
|
%
|
|||||
|
Early Education
|
|
35
|
|
|
384
|
|
|
1.5
|
%
|
|||||
|
Automotive Parts
|
|
55
|
|
|
388
|
|
|
1.1
|
%
|
|||||
|
Office Supplies
|
|
16
|
|
|
351
|
|
|
0.7
|
%
|
|||||
|
Other
|
|
9
|
|
|
294
|
|
|
0.7
|
%
|
|||||
|
Medical Office
|
|
5
|
|
|
65
|
|
|
0.5
|
%
|
|||||
|
Pet Supplies and Service
|
|
4
|
|
|
133
|
|
|
0.4
|
%
|
|||||
|
Apparel
|
|
4
|
|
|
92
|
|
|
0.2
|
%
|
|||||
|
Vacant
|
|
7
|
|
|
641
|
|
|
—
|
|
|||||
|
Industrial
|
|
158
|
|
|
12,609
|
|
|
14.9
|
%
|
|||||
|
Office and Other
|
|
42
|
|
|
2,011
|
|
|
7.2
|
%
|
|||||
|
Total
|
|
|
1,860
|
|
|
40,679
|
|
|
100.0
|
%
|
||||
|
Item 3.
|
Legal Proceedings
|
|
Item 4.
|
Mine Safety Disclosure
|
|
Period Ended
|
||||||||||||||||||||||||
|
Index:
|
|
12/31/2015
|
|
|
12/31/2016
|
|
|
12/31/2017
|
|
|
12/31/2018
|
|
|
12/31/2019
|
|
|
12/31/2020
|
|
||||||
|
Spirit Realty Capital, Inc.
|
$
|
100.00
|
|
$
|
115.82
|
|
$
|
100.46
|
|
$
|
99.82
|
|
$
|
147.33
|
|
$
|
129.70
|
|
||||||
|
S&P 500
|
$
|
100.00
|
|
$
|
109.54
|
|
$
|
130.81
|
|
$
|
122.65
|
|
$
|
158.07
|
|
$
|
183.77
|
|
||||||
|
NAREIT US Equity REIT Index
|
$
|
100.00
|
|
$
|
108.52
|
|
$
|
114.19
|
|
$
|
108.91
|
|
$
|
137.23
|
|
$
|
126.25
|
|
||||||
|
Years Ended December 31,
|
||||||||||||||||||||
|
(Dollars in thousands, except per share data)
|
2020
|
2019
|
2018
|
2017
|
2016
|
|||||||||||||||
|
Statement of Operations Data:
|
||||||||||||||||||||
|
Rental income
|
$
|
479,901
|
|
$
|
438,691
|
|
$
|
402,321
|
|
$
|
424,260
|
|
$
|
420,003
|
|
|||||
|
Related party fee income
|
|
678
|
|
|
69,218
|
|
|
15,838
|
|
|
—
|
|
|
—
|
|
|||||
|
General and administrative
|
|
48,380
|
|
|
52,424
|
|
|
52,993
|
|
|
54,998
|
|
|
48,651
|
|
|||||
|
Property costs (including reimbursable)
|
|
24,492
|
|
|
18,637
|
|
|
21,066
|
|
|
28,487
|
|
|
26,045
|
|
|||||
|
Interest
|
|
104,165
|
|
|
101,060
|
|
|
97,548
|
|
|
113,394
|
|
|
118,690
|
|
|||||
|
Income from continuing operations
|
|
26,708
|
|
|
175,266
|
|
|
148,491
|
|
|
40,428
|
|
|
28,638
|
|
|||||
|
Net income attributable to common stockholders
|
|
16,358
|
|
|
164,916
|
|
|
121,700
|
|
|
74,618
|
|
|
97,446
|
|
|||||
|
Net income from continuing operations per common share—diluted
|
|
0.15
|
|
|
1.81
|
|
|
1.58
|
|
|
0.40
|
|
|
0.30
|
|
|||||
|
Dividends declared per common share issued
(1)
|
|
2.50
|
|
|
2.50
|
|
|
3.05
|
|
|
3.60
|
|
|
3.53
|
|
|||||
|
Weighted average shares of common stock outstanding—diluted
(1)
|
|
104,535,384
|
|
|
90,869,312
|
|
|
86,476,449
|
|
|
93,588,560
|
|
|
93,849,250
|
|
|||||
|
Other Data:
|
||||||||||||||||||||
|
FFO
(2)
|
$
|
285,716
|
|
$
|
305,052
|
|
$
|
322,359
|
|
$
|
367,296
|
|
$
|
394,952
|
|
|||||
|
AFFO
(2)
|
|
309,447
|
|
|
341,731
|
|
|
346,323
|
|
|
398,148
|
|
|
412,999
|
|
|||||
|
Number of properties at period end
|
|
1,860
|
|
|
1,795
|
|
|
1,514
|
|
|
2,480
|
|
|
2,615
|
|
|||||
|
Owned properties occupancy at period end (based on number of properties)
|
|
99.6
|
%
|
|
99.7
|
%
|
|
99.7
|
%
|
|
99.2
|
%
|
|
98.2
|
%
|
|||||
|
(1)
|
Adjusted for the reverse stock split effected in 2018.
|
|
(2)
|
See the definitions and reconciliation of
non-GAAP
measures in Item 7. “Management’s Discussion and Analysis of Financial Condition and Results of Operations –
Non-GAAP
Financial Measures.”
|
|
December 31,
|
||||||||||||||||||||
|
(Dollars in thousands)
|
2020
|
2019
|
2018
|
2017
(1)
|
2016
(1)
|
|||||||||||||||
|
Balance Sheet Data:
|
||||||||||||||||||||
|
Gross investments, including related lease intangibles
|
$
|
6,805,437
|
|
$
|
6,175,703
|
|
$
|
5,123,631
|
|
$
|
7,903,025
|
|
$
|
8,247,654
|
|
|||||
|
Net investments, including related lease intangibles
|
|
5,821,628
|
|
|
5,341,228
|
|
|
4,396,098
|
|
|
6,614,025
|
|
|
7,090,335
|
|
|||||
|
Cash and cash equivalents
|
|
70,303
|
|
|
14,492
|
|
|
14,493
|
|
|
8,798
|
|
|
10,059
|
|
|||||
|
Total assets
|
|
6,396,786
|
|
|
5,832,661
|
|
|
5,096,316
|
|
|
7,263,511
|
|
|
7,677,971
|
|
|||||
|
Total debt, net
|
|
2,506,341
|
|
|
2,153,017
|
|
|
2,054,637
|
|
|
3,639,680
|
|
|
3,664,628
|
|
|||||
|
Total liabilities
|
|
2,795,666
|
|
|
2,419,412
|
|
|
2,294,567
|
|
|
3,943,902
|
|
|
3,995,863
|
|
|||||
|
Total stockholders’ equity
|
|
3,601,120
|
|
|
3,413,249
|
|
|
2,801,749
|
|
|
3,319,609
|
|
|
3,682,108
|
|
|||||
|
(1)
|
Balances include assets and liabilities of both continuing operations and discontinued operations. Reference Note 12 to the accompanying consolidated financial statements for additional information.
|
|
Years Ended December 31,
|
||||||||||||||||
|
(In Thousands)
|
2020
|
2019
|
Change
|
% Change
|
||||||||||||
|
Revenues:
|
||||||||||||||||
|
Rental income
|
|
$ 479,901
|
|
|
$ 438,691
|
|
|
$ 41,210
|
|
|
9.4
|
%
|
||||
|
Interest income on loans receivable
|
|
998
|
|
|
3,240
|
|
|
(2,242
|
)
|
|
(69.2
|
)%
|
||||
|
Earned income from direct financing leases
|
|
571
|
|
|
1,239
|
|
|
(668
|
)
|
|
(53.9
|
)%
|
||||
|
Related party fee income
|
|
678
|
|
|
69,218
|
|
|
(68,540
|
)
|
|
(99.0
|
)%
|
||||
|
Other income
|
|
1,469
|
|
|
4,039
|
|
|
(2,570
|
)
|
|
(63.6
|
)%
|
||||
|
Total revenues
|
|
483,617
|
|
|
516,427
|
|
|
(32,810
|
)
|
|
(6.4
|
)%
|
||||
|
Expenses:
|
||||||||||||||||
|
General and administrative
|
|
48,380
|
|
|
52,424
|
|
|
(4,044
|
)
|
|
(7.7
|
)%
|
||||
|
Termination of interest rate swaps
|
|
—
|
|
|
12,461
|
|
|
(12,461
|
)
|
|
(100.0
|
)%
|
||||
|
Property costs (including reimbursable)
|
|
24,492
|
|
|
18,637
|
|
|
5,855
|
|
|
31.4
|
%
|
||||
|
Deal pursuit costs
|
|
2,432
|
|
|
844
|
|
|
1,588
|
|
|
NM
|
|
||||
|
Interest
|
|
104,165
|
|
|
101,060
|
|
|
3,105
|
|
|
3.1
|
%
|
||||
|
Depreciation and amortization
|
|
212,620
|
|
|
175,465
|
|
|
37,155
|
|
|
21.2
|
%
|
||||
|
Impairments
|
|
81,476
|
|
|
24,091
|
|
|
57,385
|
|
|
NM
|
|
||||
|
Total expenses
|
|
473,565
|
|
|
384,982
|
|
|
88,583
|
|
|
23.0
|
%
|
||||
|
Other income:
|
||||||||||||||||
|
Loss on debt extinguishment
|
|
(7,227
|
)
|
|
(14,330
|
)
|
|
7,103
|
|
|
(49.6
|
)%
|
||||
|
Gain on disposition of assets
|
|
24,156
|
|
|
58,850
|
|
|
(34,694
|
)
|
|
(59.0
|
)%
|
||||
|
Preferred dividend income from SMTA
|
|
—
|
|
|
10,802
|
|
|
(10,802
|
)
|
|
(100.0
|
)%
|
||||
|
Total other income
|
|
16,929
|
|
|
55,322
|
|
|
(38,393
|
)
|
|
(69.4
|
)%
|
||||
|
Income before income tax expense
|
|
26,981
|
|
|
186,767
|
|
|
(159,786
|
)
|
|
(85.6
|
)%
|
||||
|
Income tax expense
|
|
(273
|
)
|
|
(11,501
|
)
|
|
11,228
|
|
|
(97.6
|
)%
|
||||
|
Net income
|
|
$ 26,708
|
|
|
$ 175,266
|
|
|
$ (148,558
|
)
|
|
(84.8
|
)%
|
||||
|
Years Ended December 31,
|
||||||||
|
(In Thousands)
|
2020
|
2019
|
||||||
|
Base Cash Rent
|
$
|
453,013
|
|
$
|
404,720
|
|
||
|
Variable cash rent (including reimbursables)
|
|
13,176
|
|
|
12,737
|
|
||
|
Straight-line rent, net of uncollectible reserve
|
|
11,876
|
|
|
16,924
|
|
||
|
Amortization of above- and below- market lease intangibles, net
|
|
1,836
|
|
|
4,310
|
|
||
|
Total rental income
|
$
|
479,901
|
|
$
|
438,691
|
|
||
|
Years Ended December 31,
|
||||||||
|
(In Thousands)
|
2020
|
2019
|
||||||
|
Interest expense – revolving credit facilities
|
$
|
3,686
|
|
$
|
5,201
|
|
||
|
Interest expense – term loans
|
|
3,545
|
|
|
15,448
|
|
||
|
Interest expense – Senior Unsecured Notes
|
|
61,750
|
|
|
29,286
|
|
||
|
Interest expense – mortgages and notes payable
|
|
12,028
|
|
|
18,733
|
|
||
|
Interest expense – Convertible Notes
|
|
10,728
|
|
|
17,245
|
|
||
|
Interest expense – interest rate swaps
|
|
—
|
|
|
972
|
|
||
|
Non-cash
interest expense
|
|
12,428
|
|
|
14,175
|
|
||
|
Total interest expense
|
$
|
104,165
|
|
$
|
101,060
|
|
||
|
Years Ended December 31,
|
||||||||
|
(In Thousands)
|
2020
|
2019
|
||||||
|
Management fees
(1)
|
$
|
678
|
|
$
|
15,635
|
|
||
|
Property management and special services fees
|
|
—
|
|
|
5,427
|
|
||
|
Termination fee related to the Asset Management Agreement
|
|
—
|
|
|
48,156
|
|
||
|
Total related party fee income
|
$
|
678
|
|
$
|
69,218
|
|
||
|
(1)
|
Includes $0.9 million of stock compensation awarded by SMTA to an employee of Spirit for the year ended December 31, 2019, which was fully offset by $0.9 million in general and administrative expenses.
|
| • |
Maximum leverage ratio (defined as consolidated total indebtedness of the Company, net of certain cash and cash equivalents, to total asset value) of 0.60:1.00;
|
| • |
Minimum fixed charge coverage ratio (defined as EBITDA of the Company, to fixed charges) of 1.50:1.00;
|
| • |
Maximum secured indebtedness leverage ratio (defined as consolidated secured indebtedness of the Company, net of certain cash and cash equivalents, to total asset value) of 0.50:1:00;
|
| • |
Minimum unsecured interest coverage ratio (defined as consolidated net operating income from unencumbered properties, to unsecured interest expense) of 1.75:1.00; and
|
| • |
Maximum unencumbered leverage ratio (defined as consolidated unsecured indebtedness of the Company, net of certain cash and cash equivalents, to total unencumbered asset value) of 0.60:1:00.
|
|
Maturity Date
|
Stated Interest
Rate |
December 31,
2020
|
||||||||
|
2026 Senior Notes
|
September 15, 2026
|
|
4.45
|
%
|
$
|
300,000
|
|
|||
|
2027 Senior Notes
|
January 15, 2027
|
|
3.20
|
%
|
$
|
300,000
|
|
|||
|
2029 Senior Notes
|
July 15, 2029
|
|
4.00
|
%
|
$
|
400,000
|
|
|||
|
2030 Senior Notes
|
January 15, 2030
|
|
3.40
|
%
|
$
|
500,000
|
|
|||
|
2031 Senior Notes
|
February 15, 2031
|
|
3.20
|
%
|
$
|
450,000
|
|
|||
|
Total Senior Unsecured Notes
|
|
|
3.61
|
%
|
$
|
1,950,000
|
|
|||
| • |
Maximum leverage ratio (defined as consolidated total indebtedness, to total consolidated undepreciated real estate assets plus the Company’s other assets, excluding accounts receivable and
non-real
estate intangibles) of 0.60:1.00;
|
| • |
Minimum unencumbered asset coverage ratio (defined as total consolidated undepreciated real estate assets plus the Company’s other assets, excluding accounts receivable and
non-real
estate intangibles, to consolidated total unsecured indebtedness) of 1.50:1:00;
|
| • |
Maximum secured indebtedness leverage ratio (defined as consolidated total secured indebtedness, to total consolidated undepreciated real estate assets plus the Company’s other assets, excluding accounts receivable and
non-real
estate intangibles) of 0.40:1.00; and
|
| • |
Minimum fixed charge coverage ratio (defined as consolidated income available for debt service, to the annual service charge) of 1.50:1.0.
|
|
Year of Maturity
|
Number of
Loans
|
Number of
Properties
|
Stated Interest
Rate Range
|
Weighted
Average Stated Rate |
Scheduled
Principal
|
Balloon
|
Total
|
|||||||||||||||||||
|
2021
|
|
—
|
|
|
—
|
|
—%
|
|
—
|
%
|
$
|
4,365
|
|
$
|
—
|
|
$
|
4,365
|
|
|||||||
|
2022
|
|
—
|
|
|
—
|
|
—%
|
|
—
|
|
|
4,617
|
|
|
—
|
|
|
4,617
|
|
|||||||
|
2023
|
|
3
|
|
|
86
|
|
5.23%-5.50%
|
|
5.46
|
|
|
3,074
|
|
|
197,912
|
|
|
200,986
|
|
|||||||
|
2024
|
|
—
|
|
|
—
|
|
—%
|
|
—
|
|
|
590
|
|
|
—
|
|
|
590
|
|
|||||||
|
2025
|
|
1
|
|
|
1
|
|
6.00%
|
|
6.00
|
|
|
610
|
|
|
16
|
|
|
626
|
|
|||||||
|
Thereafter
|
|
1
|
|
|
1
|
|
5.80%
|
|
5.80
|
|
|
3,000
|
|
|
53
|
|
|
3,053
|
|
|||||||
|
Total
|
|
5
|
|
|
88
|
|
|
|
5.47
|
%
|
$
|
16,256
|
|
$
|
197,981
|
|
$
|
214,237
|
|
|||||||
|
Total
|
2021
|
2022
|
2023
|
2024
|
2025
|
Thereafter
|
||||||||||||||||||||||
|
2019 Credit Facility
|
$
|
—
|
|
$
|
—
|
|
$
|
—
|
|
$
|
—
|
|
$
|
—
|
|
$
|
—
|
|
$
|
—
|
|
|||||||
|
2020 Term Loans
|
|
178,000
|
|
|
—
|
|
|
178,000
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|||||||
|
Senior Unsecured Notes
|
|
1,950,000
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
1,950,000
|
|
|||||||
|
CMBS
|
|
214,237
|
|
|
4,365
|
|
|
4,617
|
|
|
200,986
|
|
|
590
|
|
|
626
|
|
|
3,053
|
|
|||||||
|
Convertible Notes
|
|
190,426
|
|
|
190,426
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|||||||
|
|
$
|
2,532,663
|
|
$
|
194,791
|
|
$
|
182,617
|
|
$
|
200,986
|
|
$
|
590
|
|
$
|
626
|
|
$
|
1,953,053
|
|
|||||||
|
Contractual Obligations
|
Payment due by period
|
|||||||||||||||||||
|
Total
|
Less than 1 year
|
1-3
years
|
3-5
years
|
More than 5 years
|
||||||||||||||||
|
Debt - Principal
|
$
|
2,532,663
|
|
$
|
194,791
|
|
$
|
383,603
|
|
$
|
1,216
|
|
$
|
1,953,053
|
|
|||||
|
Debt - Interest
(1)
|
|
606,997
|
|
|
85,958
|
|
|
160,908
|
|
|
141,125
|
|
|
219,006
|
|
|||||
|
Acquisitions Under Contract
(2)
|
|
47,985
|
|
|
47,985
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|||||
|
Capital Improvements
|
|
12,655
|
|
|
12,404
|
|
|
251
|
|
|
—
|
|
|
—
|
|
|||||
|
Operating Lease Obligations
|
|
7,818
|
|
|
1,301
|
|
|
2,457
|
|
|
2,476
|
|
|
1,584
|
|
|||||
|
Total
|
$
|
3,208,118
|
|
$
|
342,439
|
|
$
|
547,219
|
|
$
|
144,817
|
|
$
|
2,173,643
|
|
|||||
|
(1)
|
Debt - Interest has been calculated based on outstanding balances as of December 31, 2020 through their respective maturity dates and excludes unamortized
non-cash
deferred financing costs of $18.5 million and unamortized debt discount, net of $7.8 million.
|
|
(2)
|
Contracts contain standard cancellation clauses contingent on results of due diligence.
|
|
Years Ended December 31,
|
||||||||||||
|
2020
|
2019
|
Change
|
||||||||||
|
Net cash provided by operating activities
|
$
|
314,312
|
|
$
|
339,053
|
|
$
|
(24,741
|
)
|
|||
|
Net cash used in investing activities
|
|
(747,750
|
)
|
|
(894,999
|
)
|
|
147,249
|
|
|||
|
Net cash provided by financing activities
|
|
490,713
|
|
|
504,548
|
|
|
(13,835
|
)
|
|||
|
Net increase (decrease) in cash, cash equivalents and restricted cash
|
$
|
57,275
|
|
$
|
(51,398
|
)
|
$
|
108,673
|
|
|||
| • |
a decrease in related party fee income of $70.5 million, which was primarily attributable to the $48.2 million termination fee received in connection with the termination of the Asset Management Agreement in September 2019, which was replaced by the Interim Management Agreement,
|
| • |
a decrease in preferred dividends received from SMTA of $14.6 million as a result of SMTA repurchasing the preferred shares in September 2019, and
|
| • |
an increase in cash interest paid of $9.4 million driven by the issuance of the 2027 Senior Notes, 2029 Senior Notes, 2030 Senior Notes, and 2031 Senior Notes.
|
| • |
termination fee costs of $24.8 million paid for the termination of interest rate swaps in 2019,
|
| • |
a decrease in cash taxes paid of $11.0 million primarily driven by the net decrease in taxable income in 2020 and sale of MTA, and
|
| • |
a net increase in cash rental revenue of $30.2 million, driven by net acquisitions over the trailing twelve month period, partially offset by $26.3 million of rent deferred and $6.3 million of rent abated during the year ended December 31, 2020 as a result of the
COVID-19
pandemic.
|
|
Years Ended December 31,
|
||||||||||||
|
(Dollars in thousands, except per share data)
|
|
2020
|
|
|
2019
|
|
|
2018
|
|
|||
|
Net income attributable to common stockholders
|
$
|
16,358
|
|
$
|
164,916
|
|
$
|
121,700
|
|
|||
|
Portfolio depreciation and amortization
|
|
212,038
|
|
|
174,895
|
|
|
197,346
|
|
|||
|
Portfolio impairments
|
|
81,476
|
|
|
24,091
|
|
|
17,668
|
|
|||
|
Gain on disposition of assets
|
|
(24,156
|
)
|
|
(58,850
|
)
|
|
(14,355
|
)
|
|||
|
FFO attributable to common stockholders
|
$
|
285,716
|
|
$
|
305,052
|
|
$
|
322,359
|
|
|||
|
Loss (gain) on debt extinguishment
|
|
7,227
|
|
|
14,330
|
|
|
(26,729
|
)
|
|||
|
Deal pursuit costs
|
|
2,432
|
|
|
844
|
|
|
549
|
|
|||
|
Transaction costs
|
|
—
|
|
|
—
|
|
|
21,391
|
|
|||
|
Non-cash
interest expense
|
|
12,428
|
|
|
14,175
|
|
|
22,866
|
|
|||
|
Accrued interest and fees on defaulted loans
|
|
—
|
|
|
285
|
|
|
1,429
|
|
|||
|
Straight-line rent, net of related bad debt expense
|
|
(11,876
|
)
|
|
(16,924
|
)
|
|
(15,382
|
)
|
|||
|
Other amortization and
non-cash
charges
|
|
(918
|
)
|
|
(2,769
|
)
|
|
(2,434
|
)
|
|||
|
Swap termination costs
|
|
—
|
|
|
12,461
|
|
|
—
|
|
|||
|
Non-cash
compensation expense
|
|
12,640
|
|
|
14,277
|
|
|
15,114
|
|
|||
|
Other G&A costs associated with
Spin-Off
|
|
—
|
|
|
—
|
|
|
1,841
|
|
|||
|
Other expense
|
|
—
|
|
|
—
|
|
|
5,319
|
|
|||
|
Costs related to
COVID-19
(1)
|
|
1,798
|
|
|
—
|
|
|
—
|
|
|||
|
AFFO attributable to common stockholders
(2)
|
$
|
309,447
|
|
$
|
341,731
|
|
$
|
346,323
|
|
|||
|
Net income per share of common stock - diluted
|
$
|
0.15
|
|
$
|
1.81
|
|
$
|
1.39
|
|
|||
|
FFO per share of common stock - diluted
(3)
|
$
|
2.73
|
|
$
|
3.34
|
|
$
|
3.71
|
|
|||
|
AFFO per share of common stock - diluted
(3)
|
$
|
2.95
|
|
$
|
3.75
|
|
$
|
3.99
|
|
|||
|
AFFO per share of common stock, excluding AM termination fee and Haggen settlement
(3)(4)
|
$
|
2.95
|
|
$
|
3.34
|
|
$
|
3.78
|
|
|||
|
Weighted average shares of common stock outstanding - diluted
|
|
104,535,384
|
|
|
90,869,312
|
|
|
86,476,449
|
|
|||
|
(1)
|
Costs related to
COVID-19
are included in general and administrative expense and primarily relate to legal fees for executing rent deferral or abatement agreements.
|
|
(2)
|
AFFO for the year ended December 31, 2020 includes $26.3 million of deferred rental income recognized in conjunction with the FASB’s relief for deferral agreements extended as a result of the
COVID-19
pandemic.
|
|
(3)
|
Dividends paid and undistributed earnings allocated, if any, to unvested restricted stockholders are deducted from FFO and AFFO for the computation of the per share amounts. The following amounts were deducted:
|
|
Years Ended December 31,
|
||||||||||||
|
2020
|
2019
|
2018
|
||||||||||
| FFO | $ | 0.8 million | $ | 1.2 million | $ | 1.4 million | ||||||
| AFFO | $ | 0.9 million | $ | 1.4 million | $ | 1.5 million | ||||||
|
(4)
|
AFFO attributable to common stockholders for the year ended December 31, 2019, excluding $48.2 million of termination fee income, net of $11.3 million in income tax expense. The termination fee was received in conjunction with SMTA’s sale of Master Trust 2014 in September 2019 and termination of the Asset Management Agreement on September 20, 2019. AFFO attributable to common stockholders has not been adjusted to exclude the following amounts for the year ended December 31, 2019: (i) asset management fees of $14.7 million; (ii) property management and servicing fees of $5.4 million; (iii) preferred dividend income from SMTA $10.8 million; (iv) interest income on related party notes receivable of $1.1 million and an early repayment premium of $0.9 million; and (v) interest expense on related party loans payable of $0.2 million.
|
|
AFFO attributable to common stockholders for the year ended December 31, 2018 excludes proceeds from the Haggen settlement of $19.1 million.
|
|
December 31,
|
||||||||
|
(Dollars in thousands)
|
2020
|
2019
|
||||||
|
Revolving credit facilities
|
$
|
—
|
|
$
|
116,500
|
|
||
|
Term loans
|
|
177,309
|
|
|
—
|
|
||
|
Senior Unsecured Notes, net
|
|
1,927,348
|
|
|
1,484,066
|
|
||
|
Mortgages and notes payable, net
|
|
212,582
|
|
|
216,049
|
|
||
|
Convertible Notes, net
|
|
189,102
|
|
|
336,402
|
|
||
|
Total debt, net
|
|
2,506,341
|
|
|
2,153,017
|
|
||
|
Unamortized debt discount, net
|
|
7,807
|
|
|
9,272
|
|
||
|
Unamortized deferred financing costs
|
|
18,515
|
|
|
17,549
|
|
||
|
Cash and cash equivalents
|
|
(70,303
|
)
|
|
(14,492
|
)
|
||
|
Restricted cash balances held for the benefit of lenders
|
|
(12,995
|
)
|
|
(11,531
|
)
|
||
|
Adjusted Debt
|
$
|
2,449,365
|
|
$
|
2,153,815
|
|
||
|
Three Months
Ended December 31,
|
||||||||
|
(Dollars in thousands)
|
2020
|
2019
|
||||||
|
Net income
|
$
|
29,170
|
|
$
|
4,657
|
|
||
|
Interest
|
|
26,307
|
|
|
24,598
|
|
||
|
Depreciation and amortization
|
|
55,054
|
|
|
48,867
|
|
||
|
Income tax benefit
|
|
(133
|
)
|
|
(229
|
)
|
||
|
(Gain) loss on disposition of assets
|
|
(12,347
|
)
|
|
11,910
|
|
||
|
Portfolio impairments
|
|
11,547
|
|
|
10,860
|
|
||
|
EBITDA
re
|
$
|
109,598
|
|
$
|
100,663
|
|
||
|
Adjustments to revenue producing acquisitions and dispositions
|
|
4,596
|
|
|
6,881
|
|
||
|
Deal pursuit costs
|
|
802
|
|
|
270
|
|
||
|
(Gain) loss on debt extinguishment
|
|
(25
|
)
|
|
2,857
|
|
||
|
Costs related to
COVID-19
(1)
|
|
358
|
|
|
—
|
|
||
|
Adjusted EBITDA
re
|
$
|
115,329
|
|
$
|
110,671
|
|
||
|
Adjustments related to straight-line rent
(2)
|
|
(506
|
)
|
|
—
|
|
||
|
Other adjustments for Annualized Adjusted EBITDA
re
(3)
|
|
397
|
|
|
58
|
|
||
|
Annualized Adjusted EBITDA
re
|
$
|
460,880
|
|
$
|
442,916
|
|
||
|
Adjusted Debt / Annualized Adjusted EBITDA
re
(4)
|
|
5.3x
|
|
|
4.9x
|
|
||
|
(1)
|
Costs related to
COVID-19
are included in general and administrative expense and primarily relate to legal fees for executing rent deferral or abatement agreements.
|
|
(2)
|
Adjustment relates to recoveries on straight-line rent receivable balances deemed not probable of collection in previous periods.
|
|
(3)
|
Adjustments for the three months ended December 31, 2020 for amounts where annualization would not be appropriate are comprised of certain recoveries related to prior period amounts (rent deemed not probable of collection, abatements, property costs and tax expenses) and certain general and administrative expenses. For the same period in 2019, adjustments are composed of certain other income,
write-off
of intangibles and other compensation-related adjustments where annualization would not be appropriate.
|
|
(4)
|
Adjusted Debt / Annualized Adjusted EBITDA
re
|
|
Item 7A.
|
Quantitative and Qualitative Disclosures About Market Risk
|
|
Carrying
Value
|
Estimated
Fair Value
|
|||||||
|
2019 Credit Facility
|
$
|
—
|
|
$
|
—
|
|
||
|
2020 Term Loans, net
(1)
|
|
177,309
|
|
|
177,884
|
|
||
|
Senior Unsecured Notes, net
(1)
|
|
1,927,348
|
|
|
2,122,409
|
|
||
|
Mortgages and notes payable, net
(1)
|
|
212,582
|
|
|
226,240
|
|
||
|
Convertible Notes, net
(1)
|
|
189,102
|
|
|
194,124
|
|
||
|
|
||||||||
|
(1)
|
The carrying value of the debt instruments are net of unamortized deferred financing costs and certain debt discounts/premiums.
|
|
Item 8.
|
Financial Statements and Supplementary Data
|
|
Description of the Matter
|
At December 31, 2020, the Company’s real estate investments (land, building, and improvements) held and used totaled $5.5 billion. As discussed in Note 2 to the consolidated financial statements, the Company reviews its real estate investments held and used periodically for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. The Company considers factors such as expected future undiscounted cash flows, estimated residual value, and market trends (such as the effects of leasing demand and competition) in assessing recoverability of these investments. Key assumptions used in estimating future cash flows and fair values include recently quoted bid or ask prices, market prices of comparable investments, contractual and comparable market rents, leasing assumptions, capitalization rates, and expectations for the use of the asset. A real estate investment held and used is considered impaired if its carrying value exceeds its estimated undiscounted cash flows, and the impairment is calculated as the amount by which the carrying value of the asset exceeds its estimated fair value.
|
|
|
Auditing management’s evaluation of impairment on real estate investments held and used is judgmental due to the estimation required in determining undiscounted cash flows that can be generated from the investment and determining estimated fair value when the investment is not deemed recoverable from those estimated future cash flows. In particular, the impairment evaluation is sensitive to the investment’s estimated residual value that is derived from the key assumptions stated above, which can be affected by expectations about future market or economic conditions, demand, and competition.
|
||
|
How We Addressed
the Matter in Our
Audit
|
We obtained an understanding, evaluated the design, and tested the operating effectiveness of controls over the Company’s impairment evaluation process. This included controls over management’s review of the key assumptions underlying the undiscounted cash flows and the fair value determination. To test the Company’s evaluation of impairment of real estate investments, we performed audit procedures that included, among others, testing the key assumptions used by management in its recoverability analysis and in determining the fair value of investments that were impaired. We compared the key assumptions to observable market transaction information published by independent industry research sources to assess whether the assumptions were market supported. We involved a valuation specialist to assist in evaluating the key assumptions listed above. As part of our evaluation, we assessed the historical accuracy of management’s estimates and performed sensitivity analyses of key assumptions to evaluate the changes in the valuation of certain properties that would result from changes in the assumptions or using alternative valuation techniques.
In addition, we performed procedures to evaluate the completeness and accuracy of the data utilized in management’s impairment analysis. We also assessed information and events subsequent to the balance sheet date, if any, to corroborate certain of the key assumptions used by management.
|
|
|
Description of the Matter
|
The Company recorded $479.9 million in rental income for the year ended December 31, 2020. As discussed in Note 2 to the consolidated financial statements, the Company evaluates the collectability of lease payments on a regular basis. The Company considers certain key factors in assessing collectability, including: tenant’s payment history and financial condition, business conditions in the industry in which the tenant operates, economic conditions of the geographic location in which the tenant operates, as well as other relevant tenant specific circumstances.
Auditing management’s evaluation of collectability of lease payments requires judgement as the assessment is based on tenant specific circumstances and expectations of future economic and market conditions. In particular, the longer-term nature of repayments of
COVID-19
induced deferrals, the absence of cash receipts during the deferral period, and the current market environment requires the judgement of management in evaluating the collectability of billed and unbilled tenant receivables. Given the tenant specific nature of this evaluation and the uncertainty associated with future economic and market conditions, the related reserves against revenue are sensitive to the economic and geographic considerations of individual tenants described above and management’s judgment in evaluating the collectability conclusion.
|
|
|
How We Addressed
the Matter in Our
Audit
|
We obtained an understanding, evaluated the design, and tested the operating effectiveness of controls over the Company’s lease payment collectability process. To test the Company’s assessment of collectability, our audit procedures included, among others, evaluating tenant specific financial information, current and historical tenant payment collection, and changes in the collectability conclusions made during the year.
In addition, we tested the completeness and accuracy of the data used in management’s collectability analysis. We also assessed information and events subsequent to the balance sheet date, if any, to corroborate certain of the key assumptions used by management.
|
|
|
Description of the Matter
|
At December 31, 2020, the Operating Partnership’s real estate investments (land, building, and improvements) held and used totaled $5.5 billion. As discussed in Note 2 to the consolidated financial statements, the Operating Partnership reviews its real estate investments held and used periodically for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. The Operating Partnership considers factors such as expected future undiscounted cash flows, estimated residual value, and market trends (such as the effects of leasing demand and competition) in assessing recoverability of these investments. Key assumptions used in estimating future cash flows and fair values include recently quoted bid or ask prices, market prices of comparable investments, contractual and comparable market rents, leasing assumptions, capitalization rates, and expectations for the use of the asset. A real estate investment held and used is considered impaired if its carrying value exceeds its estimated undiscounted cash flows, and the impairment is calculated as the amount by which the carrying value of the asset exceeds its estimated fair value.
|
|
|
Auditing management’s evaluation of impairment on real estate investments held and used is judgmental due to the estimation required in determining undiscounted cash flows that can be generated from the investment and determining estimated fair value when the investment is not deemed recoverable from those estimated future cash flows. In particular, the impairment evaluation is sensitive to the investment’s estimated residual value that is derived from the key assumptions stated above, which can be affected by expectations about future market or economic conditions, demand, and competition.
|
||
|
How We Addressed
the Matter in Our
Audit
|
We obtained an understanding, evaluated the design, and tested the operating effectiveness of controls over the Operating Partnership’s impairment evaluation process. This included controls over management’s review of the key assumptions underlying the undiscounted cash flows and the fair value determination. To test the Operating Partnership’s evaluation of impairment of real estate investments, we performed audit procedures that included, among others, testing the key assumptions used by management in its recoverability analysis and in determining the fair value of investments that were impaired. We compared the key assumptions to observable market transaction information published by independent industry research sources to assess whether the assumptions were market supported. We involved a valuation specialist to assist in evaluating the key assumptions listed above. As part of our evaluation, we assessed the historical accuracy of management’s estimates and performed sensitivity analyses of key assumptions to evaluate the changes in the valuation of certain properties that would result from changes in the assumptions or using alternative valuation techniques.
In addition, we performed procedures to evaluate the completeness and accuracy of the data utilized in management’s impairment analysis. We also assessed information and events subsequent to the balance sheet date, if any, to corroborate certain of the key assumptions used by management.
|
|
|
Description of the Matter
|
The Operating Partnership recorded $479.9 million in rental income for the year ended December 31, 2020. As discussed in Note 2 to the consolidated financial statements, the Operating Partnership evaluates the collectability of lease payments on a regular basis. The Operating Partnership considers certain key factors in assessing collectability, including: tenant’s payment history and financial condition, business conditions in the industry in which the tenant operates, economic conditions of the geographic location in which the tenant operates, as well as other relevant tenant specific circumstances.
Auditing management’s evaluation of collectability of lease payments requires judgement as the assessment is based on tenant specific circumstances and expectations of future economic and market conditions. In particular, the longer-term nature of repayments of
COVID-19
induced deferrals, the absence of cash receipts during the deferral period, and the current market environment requires the judgement of management in evaluating the collectability of billed and unbilled tenant receivables. Given the tenant specific nature of this evaluation and the uncertainty associated with future economic and market conditions, the related reserves against revenue are sensitive to the economic and geographic considerations of individual tenants described above and management’s judgment in evaluating the collectability conclusion.
|
|
|
How We Addressed
the Matter in Our
Audit
|
We obtained an understanding, evaluated the design, and tested the operating effectiveness of controls over the Operating Partnership’s lease payment collectability process. To test the Operating Partnership’s assessment of collectability, our audit procedures included, among others, evaluating tenant specific financial information, current and historical tenant payment collection, and changes in the collectability conclusions made during the year.
In addition, we tested the completeness and accuracy of the data used in management’s collectability analysis. We also assessed information and events subsequent to the balance sheet date, if any, to corroborate certain of the key assumptions used by management.
|
|
|
December 31,
2020
|
December 31,
2019
|
|||||||
|
Assets
|
||||||||
|
Investments:
|
||||||||
|
Real estate investments:
|
||||||||
|
Land and improvements
|
$ |
|
$ |
|
||||
|
Buildings and improvements
|
|
|
||||||
|
|
|
|
|
|||||
|
Total real estate investments
|
|
|
||||||
|
Less: accumulated depreciation
|
(
|
(
|
||||||
|
|
|
|
|
|||||
|
|
|
|||||||
|
Loans receivable, net
|
— |
|
||||||
|
Intangible lease assets, net
|
|
|
||||||
|
Real estate assets under direct financing leases, net
|
|
|
||||||
|
Real estate assets held for sale, net
|
|
|
||||||
|
|
|
|
|
|||||
|
Net investments
|
|
|
||||||
|
Cash and cash equivalents
|
|
|
||||||
|
Deferred costs and other assets, net
|
|
|
||||||
|
Goodwill
|
|
|
||||||
|
|
|
|
|
|||||
|
Total assets
|
$ |
|
$ |
|
||||
|
|
|
|
|
|||||
|
Liabilities and stockholders’ equity
|
||||||||
|
Liabilities:
|
||||||||
|
Revolving credit facilities
|
$ | — | $ |
|
||||
|
Term loans, net
|
|
— | ||||||
|
Senior Unsecured Notes, net
|
|
|
||||||
|
Mortgages and notes payable, net
|
|
|
||||||
|
Convertible Notes, net
|
|
|
||||||
|
|
|
|
|
|||||
|
Total debt, net
|
|
|
||||||
|
Intangible lease liabilities, net
|
|
|
||||||
|
Accounts payable, accrued expenses and other liabilities
|
|
|
||||||
|
|
|
|
|
|||||
|
Total liabilities
|
|
|
||||||
|
Commitments and contingencies (see Note 6)
|
|
|
||||||
|
Stockholders’ equity:
|
||||||||
|
Preferred stock and paid in capital, $
|
|
|
||||||
|
Common stock, $
|
|
|
||||||
|
Capital in excess of common stock par value
|
|
|
||||||
|
Accumulated deficit
|
(
|
(
|
||||||
|
Accumulated other comprehensive loss
|
(
|
(
|
||||||
|
|
|
|
|
|||||
|
Total stockholders’ equity
|
|
|
||||||
|
|
|
|
|
|||||
|
Total liabilities and stockholders’ equity
|
$ |
|
$ |
|
||||
|
|
|
|
|
|||||
|
For the Year Ended December 31,
|
||||||||||||
|
2020
|
2019
|
2018
|
||||||||||
|
Revenues:
|
||||||||||||
|
Rental income
|
$ |
|
$ |
|
$ |
|
||||||
|
Interest income on loans receivable
|
|
|
|
|||||||||
|
Earned income from direct financing leases
|
|
|
|
|||||||||
|
Related party fee income
|
|
|
|
|||||||||
|
Other income
|
|
|
|
|||||||||
|
|
|
|
|
|
|
|||||||
|
Total revenues
|
|
|
|
|||||||||
|
Expenses:
|
||||||||||||
|
General and administrative
|
|
|
|
|||||||||
|
Termination of interest rate swaps
|
— |
|
— | |||||||||
|
Property costs (including reimbursable)
|
|
|
|
|||||||||
|
Deal pursuit costs
|
|
|
|
|||||||||
|
Interest
|
|
|
|
|||||||||
|
Depreciation and amortization
|
|
|
|
|||||||||
|
Impairments
|
|
|
|
|||||||||
|
|
|
|
|
|
|
|||||||
|
Total expenses
|
|
|
|
|||||||||
|
|
|
|
|
|
|
|||||||
|
Other income:
|
||||||||||||
|
(Loss) gain on debt extinguishment
|
(
|
(
|
|
|||||||||
|
Gain on disposition of assets
|
|
|
|
|||||||||
|
Preferred dividend income from SMTA
|
— |
|
|
|||||||||
|
Other expense
|
— | — |
(
|
|||||||||
|
|
|
|
|
|
|
|||||||
|
Total other income
|
|
|
|
|||||||||
|
|
|
|
|
|
|
|||||||
|
Income from continuing operations before income tax expense
|
|
|
|
|||||||||
|
Income tax expense
|
(
|
(
|
(
|
|||||||||
|
|
|
|
|
|
|
|||||||
|
Income from continuing operations
|
|
|
|
|||||||||
|
Loss from discontinued operations
|
— |
—
|
(
|
|||||||||
|
|
|
|
|
|
|
|||||||
|
Net Income
|
|
|
|
|||||||||
|
Dividends paid to preferred stockholders
|
(
|
(
|
(
|
|||||||||
|
|
|
|
|
|
|
|||||||
|
Net income attributable to common stockholders
|
$ |
|
$ |
|
$ |
|
||||||
|
|
|
|
|
|
|
|||||||
|
Net income per share attributable to common stockholders - basic:
|
||||||||||||
|
Continuing operations
|
$ |
|
$ |
|
$ |
|
||||||
|
Discontinued operations
|
— | — |
(
|
|||||||||
|
|
|
|
|
|
|
|||||||
|
Net income per share attributable to common stockholders - basic
|
$ |
|
$ |
|
$ |
|
||||||
|
Net income per share attributable to common stockholders - diluted:
|
||||||||||||
|
Continuing operations
|
$ |
|
$ |
|
$ |
|
||||||
|
Discontinued operations
|
— | — |
(
|
|||||||||
|
|
|
|
|
|
|
|||||||
|
Net income per share attributable to common stockholders - diluted
|
$ |
|
$ |
|
$ |
|
||||||
|
Weighted average shares of common stock outstanding:
|
||||||||||||
|
Basic
|
|
|
|
|||||||||
|
Diluted
|
|
|
|
|||||||||
|
For the Year Ended December 31,
|
||||||||||||
|
2020
|
2019
|
2018
|
||||||||||
|
Net income attributable to common stockholders
|
$ |
|
$ |
|
$ |
|
||||||
|
Other comprehensive income (loss):
|
||||||||||||
|
Net reclassification of amounts from (to) AOCL
|
|
(
|
) |
(
|
) | |||||||
|
|
|
|
|
|
|
|
||||||
|
Total comprehensive income
|
$ |
|
$ |
|
$ |
|
||||||
|
|
|
|
|
|
|
|
||||||
|
|
|
Preferred Stock
|
|
Common Stock
|
|
|
|
|
|
|
||||||||||||||||||||||
|
|
|
Shares
|
|
Par
Value and
Capital in Excess of
Par Value
|
|
Shares
|
|
Par
Value |
|
Capital in
Excess of
Par Value
|
|
Accumulated
Deficit
|
|
AOCL
|
|
Total
Stockholders’
Equity
|
||||||||||||||||
|
Balances, December 31, 2017
|
|
|
|
|
|
$
|
|
|
|
|
|
|
|
$
|
|
|
|
$
|
|
|
|
$
|
(
|
)
|
|
$
|
|
|
|
$
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
|
|
|
|
—
|
|
|
|
|
|
|
Dividends declared on preferred stock
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
(
|
)
|
|
|
—
|
|
|
|
(
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income available to common stockholders
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
|
|
|
|
—
|
|
|
|
|
|
|
Other comprehensive loss
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
(
|
)
|
|
|
(
|
)
|
|
Cost associated with preferred stock
|
|
|
—
|
|
|
|
(
|
)
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
(
|
)
|
|
Dividends declared on common stock
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
(
|
)
|
|
|
—
|
|
|
|
(
|
)
|
|
Tax withholdings related to net stock settlements
|
|
|
—
|
|
|
|
—
|
|
|
|
(
|
)
|
|
|
(
|
)
|
|
|
—
|
|
|
|
(
|
)
|
|
|
—
|
|
|
|
(
|
)
|
|
Issuance of shares of common stock, net
|
|
|
—
|
|
|
|
—
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
—
|
|
|
|
—
|
|
|
|
|
|
|
Repurchase of common shares
|
|
|
—
|
|
|
|
—
|
|
|
|
(
|
)
|
|
|
(
|
)
|
|
|
—
|
|
|
|
(
|
)
|
|
|
—
|
|
|
|
(
|
)
|
|
SMTA dividend distribution
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
(
|
)
|
|
|
—
|
|
|
|
—
|
|
|
|
(
|
)
|
|
Stock-based compensation, net
|
|
|
—
|
|
|
|
—
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(
|
)
|
|
|
—
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balances, December 31, 2018
|
|
|
|
|
|
$
|
|
|
|
|
|
|
|
$
|
|
|
|
$
|
|
|
|
$
|
(
|
)
|
|
$
|
(
|
)
|
|
$
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
|
|
|
|
—
|
|
|
|
|
|
|
Dividends declared on preferred
stock
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
(
|
)
|
|
|
—
|
|
|
|
(
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income available to common
stockholders
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
|
|
|
|
—
|
|
|
|
|
|
|
Other comprehensive loss
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
(
|
)
|
|
|
(
|
)
|
|
Dividends declared on common stock
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
(
|
)
|
|
|
—
|
|
|
|
(
|
)
|
|
Tax withholdings related to net stock settlements
|
|
|
—
|
|
|
|
—
|
|
|
|
(
|
)
|
|
|
(
|
)
|
|
|
—
|
|
|
|
(
|
)
|
|
|
—
|
|
|
|
(
|
)
|
|
Issuance of shares of common stock, net
|
|
|
—
|
|
|
|
—
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
—
|
|
|
|
—
|
|
|
|
|
|
|
Stock-based compensation, net
|
|
|
—
|
|
|
|
—
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(
|
)
|
|
|
—
|
|
|
|
|
|
|
Other
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
(
|
)
|
|
|
—
|
|
|
|
—
|
|
|
|
(
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balances, December 31, 2019
|
|
|
|
|
|
$
|
|
|
|
|
|
|
|
$
|
|
|
|
$
|
|
|
|
$
|
(
|
)
|
|
$
|
(
|
)
|
|
$
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
|
|
|
|
—
|
|
|
|
|
|
|
Dividends declared on preferred stock
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
(
|
)
|
|
|
—
|
|
|
|
(
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income available to common stockholders
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
|
|
|
|
—
|
|
|
|
|
|
|
Other comprehensive income
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
|
|
|
|
|
|
|
Dividends declared on common stock
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
(
|
)
|
|
|
—
|
|
|
|
(
|
)
|
|
Tax withholdings related to net stock settlements
|
|
|
—
|
|
|
|
—
|
|
|
|
(
|
)
|
|
|
(
|
)
|
|
|
—
|
|
|
|
(
|
)
|
|
|
—
|
|
|
|
(
|
)
|
|
Issuance of shares of common stock, net
|
|
|
—
|
|
|
|
—
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
—
|
|
|
|
—
|
|
|
|
|
|
|
Stock-based compensation, net
|
|
|
—
|
|
|
|
—
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(
|
)
|
|
|
—
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balances, December 31, 2020
|
|
|
|
|
|
$
|
|
|
|
|
|
|
|
$
|
|
|
|
$
|
|
|
|
$
|
(
|
)
|
|
$
|
(
|
)
|
|
$
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
|
For the Year Ended December 31,
|
||||||||||||
|
2020
|
2019
|
2018
|
||||||||||
|
Operating activities
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income
|
|
$
|
|
|
|
$
|
|
|
|
$
|
|
|
|
Adjustments to reconcile net income to net cash provided by operating activities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Depreciation and amortization
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Impairments
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amortization of deferred financing costs
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amortization of debt discounts
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amortization of deferred losses on interest rate swaps
|
|
|
|
|
|
|
|
|
|
|
—
|
|
|
Loss on termination of interest rate swaps
|
|
|
—
|
|
|
|
|
|
|
|
—
|
|
|
Payment for termination of interest rate swaps
|
|
|
—
|
|
|
|
(
|
)
|
|
|
—
|
|
|
Stock-based compensation expense
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loss (gain) on debt extinguishment
|
|
|
|
|
|
|
|
|
|
|
(
|
)
|
|
Gain on dispositions of real estate and other assets
|
|
|
(
|
)
|
|
|
(
|
)
|
|
|
(
|
)
|
|
Non-cash
revenue
|
|
|
(
|
)
|
|
|
(
|
)
|
|
|
(
|
)
|
|
Bad debt expense and other
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Changes in operating assets and liabilities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Deferred costs and other assets, net
|
|
|
(
|
)
|
|
|
|
|
|
|
(
|
)
|
|
Accounts payable, accrued expenses and other liabilities
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net cash provided by operating activities
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Investing activities
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Acquisitions of real estate
|
|
|
(
|
)
|
|
|
(
|
)
|
|
|
(
|
)
|
|
Capitalized real estate expenditures
|
|
|
(
|
)
|
|
|
(
|
)
|
|
|
(
|
)
|
|
Investments in loans receivable
|
|
|
—
|
|
|
|
—
|
|
|
|
(
|
)
|
|
Proceeds from redemption of preferred equity investment
|
|
|
—
|
|
|
|
|
|
|
|
—
|
|
|
Collections from investment in Master Trust 2014
|
|
|
—
|
|
|
|
|
|
|
|
—
|
|
|
Collections of principal on loans receivable
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Proceeds from dispositions of real estate and other assets, net
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net cash used in investing activities
|
|
|
(
|
)
|
|
|
(
|
)
|
|
|
(
|
)
|
|
Financing activities
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Borrowings under revolving credit facilities
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Repayments under revolving credit facilities
|
|
|
(
|
)
|
|
|
(
|
)
|
|
|
(
|
)
|
|
Borrowings under mortgages and notes payable
|
|
|
—
|
|
|
|
—
|
|
|
|
|
|
|
Repayments under mortgages and notes
payable
|
|
|
(
|
)
|
|
|
(
|
)
|
|
|
(
|
)
|
|
Borrowings under term loans
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Repayments under term loans
|
|
|
(
|
)
|
|
|
(
|
)
|
|
|
—
|
|
|
Repayments under Convertible Notes
|
|
|
(
|
)
|
|
|
(
|
)
|
|
|
—
|
|
|
Borrowings under Senior Unsecured
Notes
|
|
|
|
|
|
|
|
|
|
|
—
|
|
|
Debt extinguishment costs
|
|
|
(
|
)
|
|
|
(
|
)
|
|
|
(
|
)
|
|
Deferred financing costs
|
|
|
(
|
)
|
|
|
(
|
)
|
|
|
(
|
)
|
|
Cash, cash equivalents and restricted cash held by SMTA at
Spin-Off
|
|
|
—
|
|
|
|
—
|
|
|
|
(
|
)
|
|
Sale of SubREIT preferred shares
|
|
|
—
|
|
|
|
—
|
|
|
|
|
|
|
Proceeds from issuance of common stock, net of offering costs
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Proceeds from issuance of preferred stock, net of offering costs
|
|
|
—
|
|
|
|
—
|
|
|
|
(
|
)
|
|
|
|
For the Year Ended December 31,
|
||||||||||
|
|
|
2020
|
|
2019
|
|
2018
|
||||||
|
Repurchase of shares of common stock, including tax withholdings related to net stock settlements
|
|
|
(
|
)
|
|
|
(
|
)
|
|
|
(
|
)
|
|
Common stock dividends paid
|
|
|
(
|
)
|
|
|
(
|
)
|
|
|
(
|
)
|
|
Preferred stock dividends paid
|
|
|
(
|
)
|
|
|
(
|
)
|
|
|
(
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net cash provided by (used in) financing activities
|
|
|
|
|
|
|
|
|
|
|
(
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net increase (decrease) in cash, cash equivalents and restricted cash
|
|
|
|
|
|
|
(
|
)
|
|
|
(
|
)
|
|
Cash, cash equivalents and restricted cash, beginning of period
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash, cash equivalents and restricted cash, end of period
|
|
$
|
|
|
|
$
|
|
|
|
$
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Supplemental Disclosures of
Non-Cash
Activities:
|
|
For the Year Ended December 31,
|
||||||||||
|
|
|
2020
|
|
2019
|
|
2018
|
||||||
|
Distributions declared and unpaid
|
|
$
|
|
|
|
$
|
|
|
|
$
|
|
|
|
Relief of debt through sale or foreclosure of real estate properties
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net real estate and other collateral assets sold or surrendered to lender
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Accrued interest capitalized to principal
(1)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Accrued market-based award dividend rights
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Accrued capitalized costs
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Financing provided in connection with disposition of assets
|
|
|
—
|
|
|
|
|
|
|
|
|
|
|
Right-of-use
|
|
|
|
|
|
|
|
|
|
|
—
|
|
|
Lease liabilities
|
|
|
|
|
|
|
|
|
|
|
—
|
|
|
Reclass of residual value from direct financing lease to operating lease
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Investment in preferred shares
|
|
|
—
|
|
|
|
|
|
|
|
|
|
|
Non-cash
distribution to SMTA, net
|
|
|
—
|
|
|
|
|
|
|
|
|
|
|
Cash flow hedge changes in fair value
|
|
|
—
|
|
|
|
|
|
|
|
|
|
|
Receivable for disposal of real estate property
|
|
|
|
|
|
|
—
|
|
|
|
—
|
|
|
Supplemental Cash Flow Disclosures:
|
|
|
|
|||||||||
|
Cash paid for interest
|
|
$
|
|
|
|
$
|
|
|
|
$
|
|
|
|
Cash paid for taxes
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1)
|
Accrued and overdue interest on certain CMBS notes that have been intentionally placed in default.
|
|
December 31,
2020
|
December 31,
2019
|
|||||||
|
Assets
|
||||||||
|
Investments:
|
||||||||
|
Real estate investments:
|
||||||||
|
Land and improvements
|
$ |
|
$ |
|
||||
|
Buildings and improvements
|
|
|
||||||
|
|
|
|
|
|||||
|
Total real estate investments
|
|
|
||||||
|
Less: accumulated depreciation
|
(
|
) |
(
|
|||||
|
|
|
|
|
|||||
|
|
|
|||||||
|
Loans receivable, net
|
|
|
||||||
|
Intangible lease assets, net
|
|
|
||||||
|
Real estate assets under direct financing leases, net
|
|
|
||||||
|
Real estate assets held for sale, net
|
|
|
||||||
|
|
|
|
|
|||||
|
Net investments
|
|
|
||||||
|
Cash and cash equivalents
|
|
|
||||||
|
Deferred costs and other assets, net
|
|
|
||||||
|
Goodwill
|
|
|
||||||
|
|
|
|
|
|||||
|
Total assets
|
$ |
|
$ |
|
||||
|
|
|
|
|
|||||
|
Liabilities and partners’ capital
|
||||||||
|
Liabilities:
|
||||||||
|
Revolving credit facilities
|
$ |
|
$ |
|
||||
|
Term loans, net
|
|
|
||||||
|
Senior Unsecured Notes, net
|
|
|
||||||
|
Mortgages and notes payable, net
|
|
|
||||||
|
Notes Payable to Spirit Realty Capital, Inc., net
|
|
|
||||||
|
|
|
|
|
|||||
|
Total debt, net
|
|
|
||||||
|
Intangible lease liabilities, net
|
|
|
||||||
|
Accounts payable, accrued expenses and other liabilities
|
|
|
||||||
|
|
|
|
|
|||||
|
Total liabilities
|
|
|
||||||
|
Commitments and contingencies (see Note 6)
|
|
|
||||||
|
Partners’ Capital
|
||||||||
|
General partner’s common capital,
|
|
|
||||||
|
Limited partners’ preferred capital:
|
|
|
||||||
|
Limited partners’ common capital:
|
|
|
||||||
|
|
|
|
|
|||||
|
Total partners’ capital
|
|
|
||||||
|
|
|
|
|
|||||
|
Total liabilities and partners’ capital
|
$ |
|
$ |
|
||||
|
|
|
|
|
|||||
|
|
|
Year Ended December 31,
|
|
|||||||||
|
|
|
2020
|
|
|
2019
|
|
|
2018
|
|
|||
|
Revenues:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Rental income
|
|
$
|
|
|
|
$
|
|
|
|
$
|
|
|
|
Interest income on loans receivable
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earned income from direct financing leases
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Related party fee income
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other income
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total revenues
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Expenses:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
General and administrative
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Termination of interest rate swaps
|
|
|
|
|
|
|
|
|
|
|
—
|
|
|
Property costs (including reimbursable)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Deal pursuit costs
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Depreciation and amortization
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Impairments
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total expenses
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other income:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Loss) gain on debt extinguishment
|
|
|
(
|
|
|
|
(
|
|
|
|
|
|
|
Gain on disposition of assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Preferred dividend income from SMTA
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other expense
|
|
|
—
|
|
|
|
|
|
|
|
(
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total other income
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income from continuing operations before income tax expense
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income tax expense
|
|
|
(
|
|
|
|
(
|
|
|
|
(
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income from continuing operations
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loss from discontinued operations
|
|
|
—
|
|
|
|
|
|
|
|
(
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Preferred distributions
|
|
|
(
|
|
|
|
(
|
|
|
|
(
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income after preferred distributions
|
|
$
|
|
|
|
$
|
|
|
|
$
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
|
Net income attributable to the general partner:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Continuing operations
|
|
$
|
|
|
|
$
|
|
|
|
$
|
|
|
|
Discontinued operations
|
|
|
—
|
|
|
|
|
|
|
|
(
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income attributable to the general partner
|
|
$
|
|
|
|
$
|
|
|
|
$
|
|
|
|
|
|
|
|
|||||||||
|
Net income attributable to the limited partners:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Continuing operations
|
|
$
|
|
|
|
$
|
|
|
|
$
|
|
|
|
Discontinued operations
|
|
|
—
|
|
|
|
|
|
|
|
(
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income attributable to the limited partners
|
|
$
|
|
|
|
$
|
|
|
|
$
|
|
|
|
|
|
Year Ended December 31,
|
|
|||||||||
|
|
|
2020
|
|
|
2019
|
|
|
2018
|
|
|||
|
Net income per partnership unit - basic:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Continuing operations
|
|
$
|
|
|
|
$
|
|
|
|
$
|
|
|
|
Discontinued operations
|
|
|
—
|
|
|
|
|
|
|
|
(
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income per partnership unit - basic
|
|
$
|
|
|
|
$
|
|
|
|
$
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income per partnership unit - diluted:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Continuing operations
|
|
$
|
|
|
|
$
|
|
|
|
$
|
|
|
|
Discontinued operations
|
|
|
—
|
|
|
|
|
|
|
|
(
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income per partnership unit - diluted
|
|
$
|
|
|
|
$
|
|
|
|
$
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average partnership units outstanding:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For the Year Ended December 31,
|
||||||||||||
|
2020
|
2019
|
2018
|
||||||||||
|
Net income after preferred distributions
|
|
$
|
|
|
|
$
|
|
|
|
$
|
|
|
|
Other comprehensive income (loss):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net reclassification of amounts from (to) AOCL
|
|
|
|
|
|
|
(
|
)
|
|
|
(
|
) |
|
|
|
|
|
|
|
|||||||
|
Total comprehensive income
|
|
$
|
|
|
|
$
|
|
|
|
$
|
|
|
|
|
|
|
|
|
|
|||||||
|
Preferred Units
|
Common Units
|
Total
|
||||||||||||||||||||||||||
|
Limited Partners’ Capital
(2)
|
General Partner’s Capital
(1)
|
Limited Partners’ Capital
(2)
|
Partnership
|
|||||||||||||||||||||||||
|
Units
|
Amount
|
Units
|
Amount
|
Units
|
Amount
|
Capital
|
||||||||||||||||||||||
|
Balances, December 31, 2017
|
|
$ |
|
|
$ |
|
|
$ |
|
$ |
|
|||||||||||||||||
|
Net income
|
— | — | — |
|
— |
|
|
|||||||||||||||||||||
|
Partnership distributions declared on preferred units
|
— | — | — | — | — |
(
|
) |
(
|
) | |||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
|
Net income after preferred distributions
|
— |
|
|
|
||||||||||||||||||||||||
|
Other comprehensive loss
|
— | — | — |
(
|
) | — |
(
|
) |
(
|
) | ||||||||||||||||||
|
Partnership distributions declared on common units
|
— | — | — |
(
|
) | — |
(
|
) |
(
|
) | ||||||||||||||||||
|
Tax withholdings related to net settlement of common units
|
— | — | — | — |
(
|
) |
(
|
) |
(
|
) | ||||||||||||||||||
|
Issuance of common units, net
|
— |
(
|
) | — | — |
|
|
|
||||||||||||||||||||
|
Repurchase of common units
|
— | — | — | — |
(
|
) |
(
|
) |
(
|
) | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
|
SMTA dividend distribution
|
— | — | — | — | — |
(
|
) |
(
|
) | |||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
|
Stock-based compensation, net
|
— | — | — | — |
|
|
|
|||||||||||||||||||||
|
Balances, December 31, 2018
|
|
$ |
|
|
$ |
|
|
$ |
|
$ |
|
|||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
|
Net income
|
— | — | — |
|
— |
|
|
|||||||||||||||||||||
|
Partnership distributions declared on preferred units
|
— | — | — | — | — |
(
|
) |
(
|
) | |||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
|
Net income after preferred distributions
|
— |
|
|
|
||||||||||||||||||||||||
|
Other comprehensive loss
|
— | — | — |
(
|
) | — |
(
|
) |
(
|
) | ||||||||||||||||||
|
Partnership distributions declared on common units
|
— | — | — |
(
|
) | — |
(
|
) |
(
|
) | ||||||||||||||||||
|
Tax withholdings related to net settlement of common units
|
— | — | — | — |
(
|
) |
(
|
) |
(
|
) | ||||||||||||||||||
|
Issuance of common units, net
|
— | — | — | — |
|
|
|
|||||||||||||||||||||
|
Stock-based compensation, net
|
— | — | — | — |
|
|
|
|||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
|
Other
|
— | — | — |
(
|
) | — |
(
|
) |
(
|
) | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
|
Balances, December 31, 2019
|
|
$ |
|
|
$ |
|
|
$ |
|
$ |
|
|||||||||||||||||
|
Net income
|
— | — | — |
|
— |
|
|
|||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
|
Partnership distributions declared on preferred units
|
— | — | — | — | — |
(
|
) |
(
|
) | |||||||||||||||||||
|
Net income after preferred distributions
|
— |
|
|
|
||||||||||||||||||||||||
|
Other comprehensive income
|
— | — | — |
|
— |
|
|
|||||||||||||||||||||
|
Partnership distributions declared on common units
|
— | — | — |
(
|
) | — |
(
|
) |
(
|
) | ||||||||||||||||||
|
Tax withholdings related to net settlement of common units
|
— | — | — | — |
(
|
) |
(
|
) |
(
|
) | ||||||||||||||||||
|
Issuance of common units, net
|
— | — | — | — |
|
|
|
|||||||||||||||||||||
|
Stock-based compensation, net
|
— | — | — | — |
|
|
|
|||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
|
Balances, December 31, 2020
|
|
$ |
|
|
$ |
|
|
$ |
|
$ |
|
|||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
|
(1)
|
Consists of general partnership interests held by Spirit General OP Holdings, LLC.
|
|
(2)
|
Consists of limited partnership interests held by Spirit Realty Capital, Inc. and Spirit Notes Partner, LLC.
|
|
|
|
For the Year Ended December 31,
|
||||||||||
|
|
|
2020
|
|
2019
|
|
2018
|
||||||
|
Operating activities
|
|
|
|
|||||||||
|
Net income
|
|
$
|
|
|
|
$
|
|
|
|
$
|
|
|
|
Adjustments to reconcile net income to net cash provided by operating activities:
|
|
|
|
|||||||||
|
Depreciation and amortization
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Impairments
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amortization of deferred financing costs
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amortization of debt discounts
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amortization of deferred losses on interest rate swaps
|
|
|
|
|
|
|
|
|
|
|
—
|
|
|
Loss on termination of interest rate swaps
|
|
|
—
|
|
|
|
|
|
|
|
—
|
|
|
Payment for termination of interest rate swaps
|
|
|
—
|
|
|
|
(
|
)
|
|
|
—
|
|
|
Stock-based compensation expense
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loss (gain) on debt extinguishment
|
|
|
|
|
|
|
|
|
|
|
(
|
)
|
|
Gain on dispositions of real estate and other assets
|
|
|
(
|
)
|
|
|
(
|
)
|
|
|
(
|
)
|
|
Non-cash
revenue
|
|
|
(
|
)
|
|
|
(
|
)
|
|
|
(
|
)
|
|
Bad debt expense and other
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Changes in operating assets and liabilities:
|
|
|
|
|||||||||
|
Deferred costs and other assets, net
|
|
|
(
|
)
|
|
|
|
|
|
|
(
|
)
|
|
Accounts payable, accrued expenses and other liabilities
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net cash provided by operating activities
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Investing activities
|
|
|
|
|||||||||
|
Acquisitions of real estate
|
|
|
(
|
)
|
|
|
(
|
)
|
|
|
(
|
)
|
|
Capitalized real estate expenditures
|
|
|
(
|
)
|
|
|
(
|
)
|
|
|
(
|
)
|
|
Investments in loans receivable
|
|
|
—
|
|
|
|
—
|
|
|
|
(
|
)
|
|
Proceeds from redemption of preferred equity investment
|
|
|
—
|
|
|
|
|
|
|
|
—
|
|
|
Collections from investment in Master Trust 2014
|
|
|
—
|
|
|
|
|
|
|
|
—
|
|
|
Collections of principal on loans receivable
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Proceeds from dispositions of real estate and other assets, net
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net cash used in investing activities
|
|
|
(
|
)
|
|
|
(
|
)
|
|
|
(
|
)
|
|
Financing activities
|
|
|
|
|||||||||
|
Borrowings under revolving credit facilities
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Repayments under revolving credit facilities
|
|
|
(
|
)
|
|
|
(
|
)
|
|
|
(
|
)
|
|
Borrowings under mortgages and notes payable
|
|
|
—
|
|
|
|
—
|
|
|
|
|
|
|
Repayments under mortgages and notes payable
|
|
|
(
|
)
|
|
|
(
|
)
|
|
|
(
|
)
|
|
Borrowings under term loans
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Repayments under term loans
|
|
|
(
|
)
|
|
|
(
|
)
|
|
|
—
|
|
|
Repayments under Convertible Notes
|
|
|
(
|
)
|
|
|
(
|
)
|
|
|
—
|
|
|
Borrowings under Senior Unsecured Notes
|
|
|
|
|
|
|
|
|
|
|
—
|
|
|
Debt extinguishment costs
|
|
|
(
|
)
|
|
|
(
|
)
|
|
|
(
|
)
|
|
Deferred financing costs
|
|
|
(
|
)
|
|
|
(
|
)
|
|
|
(
|
)
|
|
Cash, cash equivalents and restricted cash held by SMTA at
Spin-Off
|
|
|
—
|
|
|
|
—
|
|
|
|
(
|
)
|
|
Sale of SubREIT preferred shares
|
|
|
—
|
|
|
|
—
|
|
|
|
|
|
|
Proceeds from issuance of common stock, net of offering costs
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For the Year Ended December 31,
|
||||||||||
|
|
|
2020
|
|
2019
|
|
2018
|
||||||
|
Proceeds from issuance of preferred stock, net of offering costs
|
|
|
—
|
|
|
|
—
|
|
|
|
(
|
)
|
|
Repurchase of shares of common stock, including tax withholdings related to net stock settlements
|
|
|
(
|
)
|
|
|
(
|
)
|
|
|
(
|
)
|
|
Common distributions paid
|
|
|
(
|
)
|
|
|
(
|
)
|
|
|
(
|
)
|
|
Preferred distributions paid
|
|
|
(
|
)
|
|
|
(
|
)
|
|
|
(
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net cash provided by (used in) financing activities
|
|
|
|
|
|
|
|
|
|
|
(
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net increase (decrease) in cash, cash equivalents and restricted cash
|
|
|
|
|
|
|
(
|
)
|
|
|
(
|
)
|
|
Cash, cash equivalents and restricted cash, beginning of period
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash, cash equivalents and restricted cash, end of period
|
|
$
|
|
|
|
$
|
|
|
|
$
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Supplemental Disclosures of
Non-Cash
Activities:
|
|
For the Year Ended December 31,
|
||||||||||
|
|
|
2020
|
|
2019
|
|
2018
|
||||||
|
Distributions declared and unpaid
|
|
$
|
|
|
|
$
|
|
|
|
$
|
|
|
|
Relief of debt through sale or foreclosure of real estate properties
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net real estate and other collateral assets sold or surrendered to lender
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Accrued interest capitalized to principal
(1)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Accrued market-based award dividend rights
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Accrued capitalized costs
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Financing provided in connection with disposition of assets
|
|
|
—
|
|
|
|
|
|
|
|
|
|
|
Right-of-use
|
|
|
|
|
|
|
|
|
|
|
—
|
|
|
Lease liabilities
|
|
|
|
|
|
|
|
|
|
|
—
|
|
|
Reclass of residual value from direct financing lease to operating lease
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Investment in preferred shares
|
|
|
—
|
|
|
|
|
|
|
|
|
|
|
Non-cash
distribution to SMTA, net
|
|
|
—
|
|
|
|
|
|
|
|
|
|
|
Cash flow hedge changes in fair value
|
|
|
—
|
|
|
|
|
|
|
|
|
|
|
Receivable for disposal of real estate property
|
|
|
|
|
|
|
—
|
|
|
|
—
|
|
|
Supplemental Cash Flow Disclosures:
|
|
|
|
|||||||||
|
Cash paid for interest
|
|
$
|
|
|
|
$
|
|
|
|
$
|
|
|
|
Cash paid for taxes
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1)
|
Accrued and overdue interest on certain CMBS notes that have been intentionally placed in default.
|
|
December 31,
2020
|
December 31,
2019
|
December 31,
2018
|
||||||||||
|
Cash and cash equivalents
|
$ |
|
$ |
|
$ |
|
||||||
|
Restricted cash:
|
||||||||||||
|
Collateral deposits
(1)
|
|
|
|
|||||||||
|
Tenant improvements, repairs and leasing commissions
(2)
|
|
|
|
|||||||||
|
Master Trust Release
(3)
|
|
|
|
|||||||||
|
1031 Exchange proceeds, net
|
|
|
|
|||||||||
|
Other
(4)
|
|
|
|
|||||||||
|
|
|
|
|
|
|
|
||||||
|
Total cash, cash equivalents and restricted cash
|
$ |
|
$ |
|
$ |
|
||||||
|
|
|
|
|
|
|
|
||||||
|
(1)
|
Funds held in lender-controlled accounts generally used to meet future debt service or certain property operating expenses.
|
|
(2)
|
Deposits held as additional collateral support by lenders to fund improvements, repairs and leasing commissions incurred to secure a new tenant.
|
|
(3)
|
Proceeds from the sale of assets pledged as collateral under either Master Trust 2013 or Master Trust 2014, which were held on deposit until a qualifying substitution was made or the funds were applied as prepayment of principal. The Master Trust 2014 notes were included in the
Spin-Off
to SMTA. The Master Trust 2013 notes were extinguished in June 2019.
|
|
(4)
|
Funds held in lender-controlled accounts released after scheduled debt service requirements are met.
|
|
Consolidated
|
||||
|
Balance as of December 31, 2017
|
$ |
|
||
|
Goodwill allocated to dispositions of a business
(Spin-Off
of SMTA)
|
(
|
) | ||
|
|
|
|
||
|
Balance as of December 31, 2018
|
|
|||
|
Goodwill allocated to dispositions of a business
|
|
|||
|
|
|
|
||
|
Balance as of December 31, 2019
|
|
|||
|
Goodwill allocated to dispositions of a business
|
|
|||
|
|
|
|
||
|
Balance as of December 31, 2020
|
$ |
|
||
|
|
|
|
||
|
Number of Properties
|
Dollar Amount of Investments
|
|||||||||||||||||||||||
|
Held in Use
|
Held for Sale
|
Total
|
Held in Use
|
Held for Sale
|
Total
|
|||||||||||||||||||
|
Gross balance, December 31, 2018
|
|
|
|
$ |
|
$ |
|
$ |
|
|||||||||||||||
|
Acquisitions/improvements
(1)
|
|
|
|
|
|
|
||||||||||||||||||
|
Dispositions of real estate
(2)(3)
|
(
|
) |
(
|
) |
(
|
) |
(
|
) |
(
|
) |
(
|
) | ||||||||||||
|
Transfers to Held for Sale
|
(
|
) |
|
|
(
|
) |
|
|
||||||||||||||||
|
Impairments
(4)
|
|
|
|
(
|
) |
(
|
) |
(
|
) | |||||||||||||||
|
Reset of gross balances
(5)
|
|
|
|
(
|
) |
(
|
) |
(
|
) | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
|
Gross balance, December 31, 2019
|
|
|
|
|
|
|
||||||||||||||||||
|
Acquisitions/improvements
(1)
|
|
|
|
|
|
|
||||||||||||||||||
|
Dispositions of real estate
(2)
|
(
|
) |
(
|
) |
(
|
) |
(
|
) |
(
|
) |
(
|
) | ||||||||||||
|
Transfers to Held for Sale
|
(
|
) |
|
|
(
|
) |
|
|
||||||||||||||||
|
Impairments
(4)
|
|
|
|
(
|
) |
(
|
) |
(
|
) | |||||||||||||||
|
Res
e
t of gross balances
(5)
|
|
|
|
(
|
) |
(
|
) |
(
|
) | |||||||||||||||
|
Other
|
|
|
|
(
|
) |
—
|
(
|
) | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
|
Gross balance, December 31, 2020
|
|
|
|
$ |
|
$ |
|
$ |
|
|||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
|
Accumulated depreciation and amortization
|
(
|
) |
(
|
) |
(
|
) | ||||||||||||||||||
|
|
|
|
|
|
|
|||||||||||||||||||
|
Net balance, December 31, 2020
(6)
|
$ |
|
$ |
|
$ |
|
||||||||||||||||||
|
|
|
|
|
|
|
|||||||||||||||||||
|
(1)
|
Includes investments of $
non-revenue
producing capitalized expenditures for the years ended December 31, 2020 and 2019.
|
|
(2)
|
The total gain on disposal of assets for properties held in use was $
|
|
(3)
|
Includes
deed-in-lieu
|
|
(4)
|
Impairments on owned real estate is comprised of real estate and intangible asset impairment and allowance for credit losses on direct financing leases.
|
|
(5)
|
Represents
write-off
of gross investment balances against the related accumulated depreciation and amortization balances as a result of basis reset due to impairment or intangibles which have been fully amortized.
|
|
(6)
|
Reconciliation of total owned investments to the accompanying consolidated balance sheet at December 31, 2020 is as follows:
|
|
Net investments
|
|
|||
|
Intangible lease liabilities, net
|
(
|
) | ||
|
|
|
|||
|
Net balance
|
$ |
|
|
For the Year Ended December 31,
|
||||||||||||
|
2020
|
2019
|
2018
|
||||||||||
|
Base Cash Rent
(1)
|
$ |
|
$ |
|
$ |
|
||||||
|
Variable cash rent (including reimbursables)
|
|
|
|
|||||||||
|
Straight-line rent, net of uncollectible reserve
(2)
|
|
|
|
|||||||||
|
Amortization of above
-
and below
-
market lease intangibles, net
(3)
|
|
|
|
|||||||||
|
|
|
|
|
|
|
|||||||
|
Total rental income
|
$ |
|
$ |
|
$ |
|
||||||
|
|
|
|
|
|
|
|||||||
|
(1)
|
Includes net impact of (amounts not deemed probable of collection)/amounts recovered of $(
(
)
million for the years ended December 31, 2020, 2019 and 2018, respectively.
|
|
(2)
|
Includes net impact of amounts not deemed probable for collection of $
result of the Company’s adoption of ASU
$
for the years ended December 31, 2020, 2019 and 2018, respectively. As a
l
lion
2016-02
on January 1, 2019, the Company reclassified bad debt expense to rental income on a prospective basis.
|
|
(3)
|
Excludes amortization of in-place leases of
$
and $
|
|
December 31,
2020
|
||||
|
2021
|
$ |
|
||
|
2022
|
|
|||
|
2023
|
|
|||
|
2024
|
|
|||
|
2025
|
|
|||
|
Thereafter
|
|
|||
|
|
|
|
||
|
Total future minimum rentals
|
$ |
|
||
|
|
|
|
||
|
December 31,
2020
|
December 31,
2019
|
|||||||
|
In-place
leases
|
$ |
|
$ |
|
||||
|
Above-market leases
|
|
|
||||||
|
Less: accumulated amortization
|
(
|
) |
(
|
) | ||||
|
|
|
|
|
|
|
|||
|
Intangible lease assets, net
|
$ |
|
$ |
|
||||
|
|
|
|
|
|
|
|||
|
Below-market leases
|
$ |
|
$ |
|
||||
|
Less: accumulated amortization
|
(
|
) |
(
|
) | ||||
|
|
|
|
|
|
|
|||
|
Intangible lease liabilities, net
|
$ |
|
$ |
|
||||
|
|
|
|
|
|
|
|||
|
|
|
December 31,
2020
|
||
|
2021
|
$ |
|
||
|
2022
|
|
|||
|
2023
|
|
|||
|
2024
|
|
|||
|
2025
|
|
|||
|
Thereafter
|
|
|||
|
|
|
|
||
|
Total future minimum amortization
|
$ |
|
||
|
|
|
|
||
|
Mortgage Loans
|
Other Notes
|
Total
|
||||||||||||||
|
Properties
|
Investment
|
Investment
|
Investment
|
|||||||||||||
|
Principal, December 31, 2018
|
|
$ |
|
$ |
|
$ |
|
|||||||||
|
Principal payments and payoffs
|
(
|
) |
(
|
) |
(
|
) |
(
|
) | ||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
|
Principal, December 31, 2019
|
|
|
|
|
||||||||||||
|
Principal payments and payoffs
|
(
|
) |
(
|
) |
(
|
) |
(
|
) | ||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
|
Principal, December 31, 2020
|
|
$ |
|
$ |
|
$ |
|
|||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
|
Year Ended December 31,
|
||||||||||||
|
2020
|
2019
|
2018
|
||||||||||
|
Real estate
|
$ |
|
$ |
|
$ |
|
||||||
|
Intangible asset impairment (recovery)
|
|
(
|
) |
|
||||||||
|
Allowance for credit losses on direct financing leases
|
|
|
|
|||||||||
|
Reversal for credit losses on loans receivable
|
|
|
(
|
) | ||||||||
|
|
|
|
|
|
|
|
|
|
||||
|
Total impairment loss
|
$ |
|
$ |
|
$ |
|
||||||
|
|
|
|
|
|
|
|
|
|
||||
|
2020 Weighted
Average Effective
Interest Rates
(1)
|
2020 Weighted
Average Stated
Rates
(2)
|
2020 Weighted
Average Remaining
Years to Maturity
(3)
|
December 31,
2020
|
December 31,
2019
|
||||||||||||||||
|
Revolving credit facilities
|
|
— |
|
$ | — | $ |
|
|||||||||||||
|
Term loans
|
|
|
|
|
— | |||||||||||||||
|
Senior Unsecured Notes
|
|
|
|
|
|
|||||||||||||||
|
CMBS
|
|
|
|
|
|
|||||||||||||||
|
Convertible Notes
|
|
|
|
|
|
|||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
|
Total debt
|
|
|
|
|
|
|||||||||||||||
|
Debt discount, net
|
(
|
) |
(
|
) | ||||||||||||||||
|
Deferred financing costs, net
(4)
|
(
|
) |
(
|
) | ||||||||||||||||
|
|
|
|
|
|
|
|||||||||||||||
|
Total debt, net
|
$ |
|
$ |
|
||||||||||||||||
|
|
|
|
|
|
|
|||||||||||||||
|
(1)
|
The effective interest rates include amortization of debt discount/premium, amortization of deferred financing costs, facility fees, and
non-utilization
fees, where applicable, calculated for the year ended December 31, 2020 and based on the average principal balance outstanding during the period.
|
|
(2)
|
Represents the weighted average stated interest rate based on the outstanding principal balance as of December 31, 2020.
|
|
(3)
|
Represents the weighted average remaining years to maturity based on the outstanding principal balance as of December 31, 2020.
|
|
(4)
|
The Company records deferred financing costs for its revolving credit facilities in deferred costs and other assets, net on its consolidated balance sheets.
|
|
Maturity Date
|
Stated Interest
Rate |
December 31,
2020
|
December 31,
2019
|
|||||||||||||
|
2026 Senior Notes
|
|
|
% | $ |
|
$ |
|
|||||||||
|
2027 Senior Notes
|
|
|
% |
|
|
|||||||||||
|
2029 Senior Notes
|
|
|
% |
|
|
|||||||||||
|
2030 Senior Notes
|
|
|
% |
|
|
|||||||||||
|
2031 Senior Notes
|
|
|
% |
|
— | |||||||||||
|
|
|
|
|
|
|
|
|
|
||||||||
|
Total Senior Unsecured Notes
|
|
% | $ |
|
$ |
|
||||||||||
|
|
|
|
|
|
|
|
|
|
||||||||
| • |
repayment and termination of $
A-1
Term Loans and
A-2
Term Loans, resulting in a loss on debt extinguishment of $
|
| • |
termination of the 2015 Credit Agreement and 2015 Term Loan Agreement, with $
|
| • |
extinguishment upon maturity of the 2019 Notes of the $
|
| • |
retirement of the $
|
| • |
extinguishment of $
|
|
Scheduled
Principal
|
Balloon
Payment
|
Total
|
||||||||||
|
2021
|
$ |
|
$ |
|
$ |
|
||||||
|
2022
|
|
|
|
|||||||||
|
2023
|
|
|
|
|||||||||
|
2024
|
|
— |
|
|||||||||
|
2025
|
|
|
|
|||||||||
|
Thereafter
|
|
|
|
|||||||||
|
|
|
|
|
|
|
|
|
|
||||
|
Total
|
$ |
|
$ |
|
$ |
|
||||||
|
|
|
|
|
|
|
|
|
|
||||
|
Year Ended December 31,
|
||||||||||||
|
2020
|
2019
|
2018
|
||||||||||
|
Interest expense – revolving credit facilities
(1)
|
$ |
|
$ |
|
$ |
|
||||||
|
Interest expense – term loans
|
|
|
|
|||||||||
|
Interest expense – Senior Unsecured Notes
|
|
|
|
|||||||||
|
Interest expense – mortgages and notes payable
|
|
|
|
|||||||||
|
Interest expense – Convertible Notes
(2)
|
|
|
|
|||||||||
|
Interest expense – interest rate swaps/other
|
— |
|
— | |||||||||
|
Non-cash
interest expense:
|
||||||||||||
|
Amortization of deferred financing costs
|
|
|
|
|||||||||
|
Amortization of debt discount, net
|
|
|
|
|||||||||
|
Amortization of net losses related to interest rate swaps
|
|
|
— | |||||||||
|
|
|
|
|
|
|
|
|
|
||||
|
Total interest expense
|
$ |
|
$ |
|
$ |
|
||||||
|
|
|
|
|
|
|
|
|
|
||||
|
(1)
|
Includes facility fees of approximately $
|
|
(2)
|
Included in interest expense on the Operating Partnership’s consolidated statements of operations are amounts paid to the Company by the Operating Partnership related to the notes payable to Spirit Realty Capital, Inc.
|
|
|
|
Declaration Date
|
Dividend Per Share
|
Record Date
|
Total Amount
|
Payment Date
|
||||||||||||
|
(in Thousands)
|
||||||||||||||||
|
2020
|
||||||||||||||||
|
Preferred Stock
|
||||||||||||||||
|
February 27, 2020
|
$ |
|
March 13, 2020 | $ |
|
March 31, 2020 | ||||||||||
|
May 22, 2020
|
|
June 15, 2020 |
|
June 30, 2020 | ||||||||||||
|
August 25, 2020
|
|
September 15, 2020 |
|
September 30, 2020 | ||||||||||||
|
November 13, 2020
|
|
December 15, 2020 |
|
December 31, 2020 | ||||||||||||
|
|
|
|
|
|
||||||||||||
|
Total Preferred Dividend
|
$ |
|
$ |
|
||||||||||||
|
Common Stock
|
||||||||||||||||
|
February 27, 2020
|
|
March 31, 2020 | $ |
|
April 15, 2020 | |||||||||||
|
May 22, 2020
|
|
June 30, 2020 |
|
July 15, 2020 | ||||||||||||
|
August 25, 2020
|
|
September 30, 2020 |
|
October 15, 2020 | ||||||||||||
|
November 13, 2020
|
|
December 31, 2020 |
|
January 15, 2021 | ||||||||||||
|
|
|
|
|
|
||||||||||||
|
Total Common Dividend
|
$ |
|
$ |
|
||||||||||||
|
2019
|
||||||||||||||||
|
Preferred Stock
|
||||||||||||||||
|
February 28, 2019
|
$ |
|
March 15, 2019 | $ |
|
March 29, 2019 | ||||||||||
|
May 30, 2019
|
|
June 14, 2019 |
|
June 28, 2019 | ||||||||||||
|
August 13, 2019
|
|
September 13, 2019 |
|
September 30, 2019 | ||||||||||||
|
November 8, 2019
|
|
December 13, 2019 |
|
December 31, 2019 | ||||||||||||
|
|
|
|
|
|
||||||||||||
|
Total Preferred Dividend
|
$ |
|
$ |
|
||||||||||||
|
Common Stock
|
||||||||||||||||
|
February 28, 2019
|
|
March 29, 2019 | $ |
|
April 15, 2019 | |||||||||||
|
May 30, 2019
|
|
June 28, 2019 |
|
July 15, 2019 | ||||||||||||
|
August 13, 2019
|
|
September 30, 2019 |
|
October 15, 2019 | ||||||||||||
|
November 8, 2019
|
|
December 31, 2019 |
|
January 15, 2020 | ||||||||||||
|
|
|
|
|
|
||||||||||||
|
Total Common Dividend
|
$ |
|
$ |
|
||||||||||||
|
Ground Leases
|
Office Lease
|
Total
|
||||||||||
|
2021
|
$ |
|
$ |
|
$ |
|
||||||
|
2022
|
|
|
|
|||||||||
|
2023
|
|
|
|
|||||||||
|
2024
|
|
|
|
|||||||||
|
2025
|
|
|
|
|||||||||
|
Thereafter
|
|
|
|
|||||||||
|
|
|
|
|
|
|
|||||||
|
Total
|
|
|
|
|||||||||
|
Less: imputed interest
|
(
|
(
|
(
|
|||||||||
|
|
|
|
|
|
|
|||||||
|
Total operating lease liabilities
|
$ |
|
$ |
|
$ |
|
||||||
|
|
|
|
|
|
|
|||||||
|
Year Ended December 31,
|
||||||||||||
|
2020
|
2019
|
2018
|
||||||||||
|
Gross amount of loss recognized in AOCL on derivatives
|
$ |
|
$ |
(
|
$ |
(
|
||||||
|
Amount of loss reclassified from AOCL to termination of interest rate swaps
|
—
|
|
— | |||||||||
|
Amount of loss reclassified from AOCL to interest
(1)
|
|
|
— | |||||||||
|
|
|
|
|
|
|
|
||||||
|
Net reclassification of amounts from (to) AOCL
|
$ |
|
$ |
(
|
$ |
(
|
||||||
|
|
|
|
|
|
|
|
||||||
|
(1)
|
Interest expense was $
|
| • |
Level 1 – Valuation is based upon quoted prices in active markets for identical assets or liabilities.
|
| • |
Level 2 – Valuation is based upon inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active or other inputs that are observable or can be corroborated by observable market data.
|
| • |
Level 3 – Inputs that are unobservable and significant to the overall fair value measurement of the assets or liabilities. These types of inputs include the Company’s own assumptions.
|
|
Fair Value Hierarchy Level
|
||||||||||||||||
|
Description
|
Fair Value
|
Level 1
|
Level 2
|
Level 3
|
||||||||||||
|
Assets held at December 31, 2020
|
||||||||||||||||
|
Impaired at March 31, 2020
|
$ |
|
$ |
|
$ |
|
$ |
|
||||||||
|
Impaired at June 30, 2020
|
$ |
|
$ |
|
$ |
|
$ |
|
||||||||
|
Impaired at September 30, 2020
|
$ |
|
$ |
|
$ |
|
$ |
|
||||||||
|
Impaired at December 31, 2020
|
$ |
|
$ |
|
$ |
|
$ |
|
||||||||
|
Assets held at December 31, 2019
|
||||||||||||||||
|
Impaired at June 30, 2019
|
$ |
|
$ |
|
$ |
|
$ |
|
||||||||
|
Impaired at September 30, 2019
|
$ |
|
$ |
|
$ |
|
$ |
|
||||||||
|
Impaired at December 31, 2019
|
$ |
|
$ |
|
$ |
|
$ |
|
||||||||
|
Unobservable Input
|
Asset Type
|
Property
Count |
Price Per Square Foot
Range |
Weighted Average
Price Square Foot |
Square
Footage
|
|||||||||||||||
|
December 31, 2020
|
||||||||||||||||||||
|
PSA, LOI or BOV
|
Retail |
|
$
|
$
|
|
|||||||||||||||
|
Comparable Properties
|
Retail |
|
$
|
$
|
|
|||||||||||||||
|
Comparable Properties
|
Office |
|
$
|
$
|
|
|||||||||||||||
|
December 31, 2019
|
||||||||||||||||||||
|
PSA, LOI or BOV
|
Retail |
|
$
|
$
|
|
|||||||||||||||
|
PSA, LOI or BOV
|
Office |
|
$
|
$
|
|
|||||||||||||||
|
Comparable Properties
|
Retail |
|
$
|
$
|
|
|||||||||||||||
|
December 31, 2020
|
December 31, 2019
|
|||||||||||||||
|
Carrying
Value
|
Estimated
Fair Value
|
Carrying
Value
|
Estimated
Fair Value
|
|||||||||||||
|
Loans receivable, net
|
$ | — | $ | — | $ |
|
$ |
|
||||||||
|
2019 Credit Facility
|
— | — |
|
|
||||||||||||
|
2020 Term Loans, net
(1)
|
|
|
— | — | ||||||||||||
|
Senior Unsecured Notes
, net
(1)
|
|
|
|
|
||||||||||||
|
Mortgages and notes payable, net
(1)
|
|
|
|
|
||||||||||||
|
Convertible Notes, net
(1)
|
|
|
|
|
||||||||||||
|
(1)
|
The carrying value of the debt instruments are net of unamortized deferred financing costs and certain debt discounts/premiums.
|
|
2020
|
2019
|
2018
|
||||||||||||||||||||||
|
Number of
Shares
|
Weighted
Average Price
(1)
(per share)
|
Number of
Shares
|
Weighted
Average Price
(1)
(per share)
|
Number of
Shares
|
Weighted
Average Price
(1)
(per share)
|
|||||||||||||||||||
|
Outstanding
non-vested
shares, beginning of year
|
|
$ |
|
|
$ |
|
|
$ |
|
|||||||||||||||
|
Shares granted
|
|
|
|
|
|
|
||||||||||||||||||
|
Shares vested
|
(
|
|
(
|
|
(
|
|
||||||||||||||||||
|
Shares forfeited
|
(
|
|
(
|
|
(
|
|
||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
|
Outstanding
non-vested
shares, end of year
|
|
$ |
|
|
$ |
|
|
$ |
|
|||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
|
(1)
|
Based on grant date fair values.
|
|
|
|
2020
|
|
|
|
|
2019
|
|
|
|
|
2018
|
||||||||||||||||||||
|
|
|
Number of
Target Shares
|
|
Weighted
Average Fair
Value
(per share)
|
|
|
|
|
|
Number of
Target Shares
|
|
Weighted
Average Fair
Value
(per share)
|
|
|
|
|
|
Number of
Target Shares
|
|
Weighted
Average Fair
Value
(per share)
|
|
|||||||||||
|
Outstanding
non-vested
awards, beginning of year
|
|
|
|
|
|
$
|
|
|
|
|
|
|
|
|
$
|
|
|
|
|
|
|
|
|
$
|
|
|
||||||
|
Grants at target
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
|
Earned above performance target
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
|
Vested
(1)
|
|
|
(
|
)
|
|
|
|
|
|
|
|
(
|
)
|
|
|
|
|
|
|
|
(
|
)
|
|
|
|
|
||||||
|
Forfeited
|
|
|
|
|
|
|
—
|
|
|
|
|
(
|
)
|
|
|
|
|
|
|
|
(
|
)
|
|
|
|
|
||||||
|
Incremental Shares
(2)
|
|
|
(
|
)
|
|
|
N/A
|
|
|
|
|
(
|
)
|
|
|
N/A
|
|
|
|
|
|
|
|
|
N/A
|
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
|
Outstanding
non-vested
awards, end of year
|
|
|
|
|
|
$
|
|
|
|
|
|
|
|
|
$
|
|
|
|
|
|
|
|
|
$
|
|
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
|
(1)
|
The number of shares that vested in 2018 includes
|
|
(2)
|
In 2018, in connection with the
Spin-Off
and in accordance with the rights granted per the Amended Incentive Award Plan, the Board of Directors made an equitable adjustment for
all market-based awards
outstanding, resulting in incremental shares. During the years ended December 31, 2020 and 2019,
Because the fair value of the outstanding market-based awards the day prior to and the day after the Spin-Off did not materially change, there was no change to unrecognized compensation expense and no incremental compensation expense related to the incremental shares.
|
|
Years Ended December 31,
|
||||||||||||
|
2020
|
2019
|
2018
|
||||||||||
|
Basic and diluted income:
|
||||||||||||
|
Income from continuing operations
|
$ |
|
$ |
|
$ |
|
||||||
|
Less: dividends paid to preferred stockholders
|
(
|
) |
(
|
) |
(
|
) | ||||||
|
Less: dividends attributable to unvested restricted stock
|
(
|
) |
(
|
) |
(
|
) | ||||||
|
|
|
|
|
|
|
|
|
|
||||
|
Income used in basic and diluted income per common share from continuing operations
|
|
|
|
|||||||||
|
Loss used in basic and diluted income per share from discontinued operations
|
— | — |
(
|
) | ||||||||
|
|
|
|
|
|
|
|
|
|
||||
|
Net income attributable to common stockholders used in basic and diluted income per share
|
$ |
|
$ |
|
$ |
|
||||||
|
|
|
|
|
|
|
|
|
|
||||
|
Weighted average shares of common stock outstanding
|
|
|
|
|||||||||
|
Less: unvested weighted average shares of restricted stock
|
(
|
) |
(
|
) |
(
|
) | ||||||
|
|
|
|
|
|
|
|
|
|
||||
|
Basic weighted average shares of common stock outstanding
|
|
|
|
|||||||||
|
|
|
|
|
|
|
|
|
|
||||
|
Net income per share attributable to common stockholders - basic
|
||||||||||||
|
Continuing operations
|
$ |
|
$ |
|
$ |
|
||||||
|
Discontinued operations
|
— | — |
(
|
) | ||||||||
|
|
|
|
|
|
|
|
|
|
||||
|
Net income per share attributable to common stockholders - basic
|
$ |
|
$ |
|
$ |
|
||||||
|
|
|
|
|
|
|
|
|
|
||||
|
Dilutive shares related to unvested market-based awards
|
|
|
|
|||||||||
|
|
|
|
|
|
|
|
|
|
||||
|
Dilutive shares related to unsettled forward equity contracts
|
|
|
|
|
|
|
—
|
|
|
|
—
|
|
|
Diluted weighted average shares of common stock outstanding
(1)
|
|
|
|
|||||||||
|
|
|
|
|
|
|
|
|
|
||||
|
Net income per share attributable to common stockholders - diluted
|
||||||||||||
|
Continuing operations
|
$ |
|
$ |
|
$ |
|
||||||
|
Discontinued operations
|
— | — |
(
|
) | ||||||||
|
|
|
|
|
|
|
|
|
|
||||
|
Net income per share attributable to common stockholders - diluted
|
$ |
|
$ |
|
$ |
|
||||||
|
|
|
|
|
|
|
|
|
|
||||
|
Potentially dilutive shares related to unvested restricted stock awards
|
|
|
|
|||||||||
|
(1)
|
Assumes the most dilutive issuance of potentially issuable shares between the
two-class
and treasury stock method unless the result would be anti-dilutive.
|
|
(in thousands)
|
Year Ended
December 31, 2018 |
|||
|
Revenues:
|
|
|||
|
Rental income
|
$ |
|
||
|
Interest income on loans receivable
|
|
|
||
|
Other income
|
|
|
||
|
|
|
|
||
|
Total revenues
|
|
|
||
|
Expenses:
|
|
|||
|
General and administrative
|
|
|
||
|
Transaction costs
|
|
|
||
|
Property costs (including reimbursable)
|
|
|
||
|
Deal pursuit costs
|
|
|
||
|
Interest
|
|
|
||
|
Depreciation and amortization
|
|
|
||
|
Impairments
|
|
|
||
|
|
|
|
||
|
Total expenses
|
|
|
||
|
|
|
|
||
|
Other loss:
|
|
|||
|
Loss on debt extinguishment
|
(
|
) | ||
|
Loss on disposition of assets
|
(
|
) | ||
|
|
|
|
||
|
Total other loss
|
(
|
) | ||
|
|
|
|
||
|
Loss from discontinued operations before income tax expense
|
(
|
) | ||
|
Income tax expense
|
(
|
) | ||
|
|
|
|
||
|
Loss from discontinued operations
|
$ |
(
|
) | |
|
|
|
|
||
|
Year Ended December 31,
|
||||
|
(in thousands)
|
2018
|
|||
|
Net cash provided by operating activities
|
$ |
|
||
|
Net cash used in investing activities
|
(
|
) | ||
|
Years Ended December 31,
|
||||||||||||
|
2020
|
2019
|
2018
|
||||||||||
|
State income tax
|
$ |
|
$ |
|
$ |
|
||||||
|
Federal income tax
|
|
|
|
|||||||||
|
|
|
|
|
|
|
|
|
|
||||
|
Total income tax expense
|
$ |
|
$ |
|
$ |
|
||||||
|
|
|
|
|
|
|
|
|
|
||||
|
Years Ended December 31,
|
||||||||
|
2020
|
2019
|
2018
(1)
|
||||||
|
Ordinary income
|
$
|
$
|
$
|
|||||
|
Return of capital
|
|
|
|
|||||
|
Capital gain
|
— |
|
|
|||||
|
|
|
|
|
|||||
|
Total
|
$
|
$
|
$
|
|||||
|
|
|
|
|
|||||
|
(1)
|
Includes stock distribution related to the
Spin-Off
of SMTA of $
|
|
2020
|
First
|
Second
|
Third
|
Fourth
|
||||||||||||||||
| (Unaudited) |
Quarter
|
Quarter
|
Quarter
|
Quarter
|
Year
|
|||||||||||||||
|
Total revenues
|
$ |
|
$ |
|
$ |
|
$ |
|
$ |
|
||||||||||
|
Depreciation and amortization
|
(
|
(
|
(
|
(
|
(
|
|||||||||||||||
|
Interest
|
(
|
(
|
(
|
(
|
(
|
|||||||||||||||
|
Other expenses
|
(
|
(
|
(
|
(
|
(
|
|||||||||||||||
|
(
Loss
)
gain on debt extinguishment
|
— | — |
(
|
|
(
|
|||||||||||||||
|
Gain on disposition of assets
|
|
|
|
|
|
|||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
|
Net (loss) income
|
(
|
(
|
|
|
|
|||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| Dividends paid to preferred stockholders |
(
|
(
|
(
|
(
|
(
|
|||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| Net (loss) income attributable to common stockholders and partners | $ |
(
|
$ |
(
|
$ |
|
$ |
|
$ |
|
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| Net (loss) income per share attributable to common stockholders and partners - basic | $ |
(
|
$ |
(
|
$ |
|
$ |
|
$ |
|
||||||||||
| Net (loss) income per share attributable to common stockholders and partners - diluted | $ |
(
|
$ |
(
|
$ |
|
$ |
|
$ |
|
||||||||||
| Dividends declared per common share and partnership unit | $ |
|
$ |
|
$ |
|
$ |
|
$ |
|
||||||||||
|
2019
|
First
|
Second
|
Third
|
Fourth
|
||||||||||||||||
| (Unaudited) |
Quarter
|
Quarter
|
Quarter
|
Quarter
|
Year
|
|||||||||||||||
|
Total revenues
|
$ |
|
$ |
|
$ |
|
$ |
|
$ |
|
||||||||||
|
Depreciation and amortization
|
(
|
(
|
(
|
(
|
(
|
|||||||||||||||
|
Interest
|
(
|
(
|
(
|
(
|
(
|
|||||||||||||||
|
Other expenses
|
(
|
(
|
(
|
(
|
(
|
|||||||||||||||
|
Gain (loss) on debt extinguishment
|
|
(
|
(
|
(
|
(
|
|||||||||||||||
|
Gain (loss) on disposition of assets
|
|
|
|
(
|
|
|||||||||||||||
|
Preferred dividend income from SMTA
|
|
|
|
— |
|
|||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
|
Net income
|
|
|
|
|
|
|||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
|
Dividends paid to preferred stockholders
|
(
|
(
|
(
|
(
|
(
|
|||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| Net income attributable to common stockholders and partners | $ |
|
$ |
|
$ |
|
$ |
|
$ |
|
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| Net income per share attributable to common stockholders and partners - basic | $ |
|
$ |
|
$ |
|
$ |
|
$ |
|
||||||||||
| Net income per share attributable to common stockholders and partners - diluted | $ |
|
$ |
|
$ |
|
$ |
|
$ |
|
||||||||||
| Dividends declared per common share and partnership unit | $ |
|
$ |
|
$ |
|
$ |
|
$ |
|
||||||||||
| (b) |
Exhibits
|
|
Initial Cost to Company
|
Cost Capitalized Subsequent to
Acquisition including
impairment
|
Gross Amount at
December 31, 2020
(d)
|
||||||||||||||||||||||||||||||||||||||||
|
Concept
|
City, State
|
Encumbrances
(c)
|
Land and
Improvements
|
Buildings and
Improvements
|
Land and
Improvements
|
Buildings and
Improvements
|
Land and
Improvements
|
Buildings and
Improvements
|
Total
|
Final
Accumulated
Depreciation
|
Date of
Construction
|
Date
Acquired
|
Life in which
depreciation in
latest
Statement of
Operations is
computed
|
|||||||||||||||||||||||||||||
| 24 Hour Fitness | Lancaster, CA | (b) |
|
|
(
|
) |
(
|
) |
|
|
|
(
|
) | 1987 | 5/7/2015 |
|
||||||||||||||||||||||||||
| Aaron’s | Okeechobee, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 2006 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Aaron’s | Navasota, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 2007 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Aaron’s | Essex, MD | (b) |
|
|
|
|
|
|
|
(
|
) | 1998 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Aaron’s | Clanton, AL | (b) |
|
|
|
|
|
|
|
(
|
) | 2007 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Aaron’s | Griffin, GA | (b) |
|
|
|
|
|
|
|
(
|
) | 2007 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Aaron’s | Beeville, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 2004 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Aaron’s | Mineral Wells, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 2008 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Aaron’s | Largo, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 1999 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Aaron’s | Mansfield, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 2007 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Aaron’s | Charlotte, NC | (b) |
|
|
|
|
|
|
|
(
|
) | 1957 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Aaron’s | Alamogordo, NM | (b) |
|
|
|
|
|
|
|
(
|
) | 2006 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Aaron’s | Wichita, KS | (b) |
|
|
|
|
|
|
|
(
|
) | 1990 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Aaron’s | Grovetown, GA | (b) |
|
|
|
|
|
|
|
(
|
) | 2007 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Aaron’s | Calumet City, IL | (b) |
|
|
|
|
|
|
|
(
|
) | 1977 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Aaron’s | Harrisonville, MO | (b) |
|
|
|
|
|
|
|
(
|
) | 1996 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Aaron’s | Chiefland, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 2007 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Aaron’s | Sandersville, GA | (b) |
|
|
|
|
|
|
|
(
|
) | 2006 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Aaron’s | Shreveport, LA | (b) |
|
|
|
|
|
|
|
(
|
) | 2001 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Aaron’s | Baton Rouge, LA | (b) |
|
|
|
|
|
|
|
(
|
) | 1999 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Aaron’s | Sweetwater, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 2006 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Aaron’s | Anderson, SC | (b) |
|
|
|
|
|
|
|
(
|
) | 1992 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Aaron’s | Rome, NY | (b) |
|
|
|
|
|
|
|
(
|
) | 1996 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Aaron’s | Hartsville, SC | (b) |
|
|
|
|
|
|
|
(
|
) | 2007 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Aaron’s | Forrest City, AR | (b) |
|
|
|
|
|
|
|
(
|
) | 2002 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Aaron’s | Wilton, NY | (b) |
|
|
|
|
|
|
|
(
|
) | 2000 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Academy Sports + Outdoors | Lufkin, TX | (a) |
|
|
|
|
|
|
|
(
|
) | 2003 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Academy Sports + Outdoors | North Richland Hills, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 1996 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Academy Sports + Outdoors | Macon, GA | (b) |
|
|
|
|
|
|
|
(
|
) | 2005 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Academy Sports + Outdoors | Clarksville, TN | (b) |
|
|
|
|
|
|
|
|
2014 | 12/16/2020 |
|
|||||||||||||||||||||||||||||
| Academy Sports + Outdoors | Douglasville, GA | (b) |
|
|
|
|
|
|
|
|
2014 | 12/16/2020 |
|
|||||||||||||||||||||||||||||
| Academy Sports + Outdoors | Flowood, MS | (b) |
|
|
|
|
|
|
|
|
2014 | 12/16/2020 |
|
|||||||||||||||||||||||||||||
| Academy Sports + Outdoors | Lake Charles, LA | (b) |
|
|
|
|
|
|
|
|
2015 | 12/29/2020 |
|
|||||||||||||||||||||||||||||
| Accel International | Meridian, CT | (b) |
|
|
|
|
|
|
|
(
|
) | 1997 | 12/17/2014 |
|
||||||||||||||||||||||||||||
| Accel International | Avila, IN | (b) |
|
|
|
|
|
|
|
(
|
) | 1990 | 12/17/2014 |
|
||||||||||||||||||||||||||||
| Advance Auto Parts | Holland Charter Township, MI | (b) |
|
|
|
|
|
|
|
(
|
) | 2005 | 7/17/2013 |
|
||||||||||||||||||||||||||||
|
Initial Cost to Company
|
Cost Capitalized Subsequent to
Acquisition including
impairment
|
Gross Amount at
December 31, 2020
(d)
|
||||||||||||||||||||||||||||||||||||||||
|
Concept
|
City, State
|
Encumbrances
(c)
|
Land and
Improvements
|
Buildings and
Improvements
|
Land and
Improvements
|
Buildings and
Improvements
|
Land and
Improvements
|
Buildings and
Improvements
|
Total
|
Final
Accumulated
Depreciation
|
Date of
Construction
|
Date
Acquired
|
Life in which
depreciation in
latest
Statement of
Operations is
computed
|
|||||||||||||||||||||||||||||
| Advance Auto Parts | Holland, MI | (b) |
|
|
|
|
|
|
|
(
|
) | 2005 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Advance Auto Parts | Zeeland, MI | (b) |
|
|
|
|
|
|
|
(
|
) | 2005 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Advance Auto Parts | Columbia Heights, MN | (b) |
|
|
|
|
|
|
|
(
|
) | 2006 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Advance Auto Parts | Duluth, MN | (b) |
|
|
|
|
|
|
|
(
|
) | 2006 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Advance Auto Parts | Rainsville, AL | (b) |
|
|
|
|
|
|
|
(
|
) | 2005 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Advance Auto Parts | Grand Bay, AL | (b) |
|
|
|
|
|
|
|
(
|
) | 2005 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Advance Auto Parts | Hurley, MS | (b) |
|
|
|
|
|
|
|
(
|
) | 2006 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Advance Auto Parts | Ashland, KY | (b) |
|
|
|
|
|
|
|
(
|
) | 2006 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Advance Auto Parts | Jackson, OH | (b) |
|
|
|
|
|
|
|
(
|
) | 2005 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Advance Auto Parts | New Boston, OH | (b) |
|
|
|
|
|
|
|
(
|
) | 2005 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Advance Auto Parts | Maryland Heights, MO | (b) |
|
|
|
|
|
|
|
(
|
) | 2005 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Advance Auto Parts | Scottsburg, IN | (b) |
|
|
|
|
|
|
|
(
|
) | 2006 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Advance Auto Parts | Charlotte, NC | (b) |
|
|
|
|
|
|
|
(
|
) | 2008 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Advance Auto Parts | Irvington, NJ | (b) |
|
|
|
|
|
|
|
(
|
) | 2006 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Advance Auto Parts | Midwest City, OK | (b) |
|
|
|
|
|
|
|
(
|
) | 2007 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Advance Auto Parts | Penns Grove, NJ | (b) |
|
|
|
|
|
|
|
(
|
) | 2006 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Advance Auto Parts | St. Francis, WI | (b) |
|
|
|
|
|
|
|
(
|
) | 2006 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Advance Auto Parts | Willingboro, NJ | (b) |
|
|
|
|
|
|
|
(
|
) | 2007 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Advance Auto Parts | Dunellen, NJ | (b) |
|
|
|
|
|
|
|
(
|
) | 2008 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Advance Auto Parts | Natchez, MS | (b) |
|
|
|
|
|
|
|
(
|
) | 1998 | 7/22/2016 |
|
||||||||||||||||||||||||||||
| Advance Auto Parts | Burlington, IA | (b) |
|
|
|
|
|
|
|
(
|
) | 1989 | 7/22/2016 |
|
||||||||||||||||||||||||||||
| Advance Auto Parts | Denmark, SC | (b) |
|
|
|
|
|
|
|
(
|
) | 1996 | 7/22/2016 |
|
||||||||||||||||||||||||||||
| Advance Auto Parts | Griffin, GA | (b) |
|
|
|
|
|
|
|
(
|
) | 1998 | 7/22/2016 |
|
||||||||||||||||||||||||||||
| Advance Auto Parts | Waynesboro, GA | (b) |
|
|
|
|
|
|
|
(
|
) | 1995 | 7/22/2016 |
|
||||||||||||||||||||||||||||
| Advance Auto Parts | Wiggins, MS | (b) |
|
|
|
|
|
|
|
(
|
) | 1965 | 7/22/2016 |
|
||||||||||||||||||||||||||||
| Advance Auto Parts | Blakeley, GA | (b) |
|
|
|
|
|
|
|
(
|
) | 1995 | 7/22/2016 |
|
||||||||||||||||||||||||||||
| Advance Auto Parts | Theodore, AL | (b) |
|
|
|
|
|
|
|
(
|
) | 1996 | 7/22/2016 |
|
||||||||||||||||||||||||||||
| Advance Auto Parts | Margate, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 1991 | 7/22/2016 |
|
||||||||||||||||||||||||||||
| Advance Auto Parts | Atmore, AL | (b) |
|
|
|
|
|
|
|
(
|
) | 1995 | 7/22/2016 |
|
||||||||||||||||||||||||||||
| Advance Auto Parts | Clinton, MS | (b) |
|
|
|
|
|
|
|
(
|
) | 1998 | 7/22/2016 |
|
||||||||||||||||||||||||||||
| Advance Auto Parts | Richmond Hill, GA | (b) |
|
|
|
|
|
|
|
(
|
) | 1995 | 7/22/2016 |
|
||||||||||||||||||||||||||||
| Advance Auto Parts | Alton, IL | (b) |
|
|
|
|
|
|
|
(
|
) | 1997 | 7/22/2016 |
|
||||||||||||||||||||||||||||
| Advance Auto Parts | Kingsland, GA | (b) |
|
|
|
|
|
|
|
(
|
) | 1998 | 7/22/2016 |
|
||||||||||||||||||||||||||||
| Advance Auto Parts | Dayton, OH | (b) |
|
|
|
|
|
|
|
(
|
) | 1998 | 7/22/2016 |
|
||||||||||||||||||||||||||||
| Advance Auto Parts | Camilla, GA | (b) |
|
|
|
|
|
|
|
(
|
) | 1995 | 7/22/2016 |
|
||||||||||||||||||||||||||||
| Advance Auto Parts | St. Louis, MO | (b) |
|
|
|
|
|
|
|
(
|
) | 1997 | 7/22/2016 |
|
||||||||||||||||||||||||||||
|
Initial Cost to Company
|
Cost Capitalized Subsequent to
Acquisition including
impairment
|
Gross Amount at
December 31, 2020
(d)
|
||||||||||||||||||||||||||||||||||||||||
|
Concept
|
City, State
|
Encumbrances
(c)
|
Land and
Improvements
|
Buildings and
Improvements
|
Land and
Improvements
|
Buildings and
Improvements
|
Land and
Improvements
|
Buildings and
Improvements
|
Total
|
Final
Accumulated
Depreciation
|
Date of
Construction
|
Date
Acquired
|
Life in which
depreciation in
latest
Statement of
Operations is
computed
|
|||||||||||||||||||||||||||||
| Advance Auto Parts | Covington, LA | (b) |
|
|
|
|
|
|
|
(
|
) | 1998 | 7/22/2016 |
|
||||||||||||||||||||||||||||
| Advance Auto Parts | Columbus, GA | (b) |
|
|
|
|
|
|
|
(
|
) | 1998 | 7/22/2016 |
|
||||||||||||||||||||||||||||
| Advance Auto Parts | Newton, MS | (b) |
|
|
|
|
|
|
|
(
|
) | 1998 | 7/22/2016 |
|
||||||||||||||||||||||||||||
| Advance Auto Parts | Augusta, GA | (b) |
|
|
|
|
|
|
|
(
|
) | 1998 | 7/22/2016 |
|
||||||||||||||||||||||||||||
| Advance Auto Parts | Tampa, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 1997 | 7/22/2016 |
|
||||||||||||||||||||||||||||
| Advance Auto Parts | New Smyrna Beach, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 1999 | 7/22/2016 |
|
||||||||||||||||||||||||||||
| Advance Auto Parts | Fort Lauderdale, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 1996 | 7/22/2016 |
|
||||||||||||||||||||||||||||
| Advance Auto Parts | Jackson, MS | (b) |
|
|
|
|
|
|
|
(
|
) | 1998 | 7/22/2016 |
|
||||||||||||||||||||||||||||
| Advance Auto Parts | Castle Shannon, PA | (b) |
|
|
|
|
|
|
|
(
|
) | 1998 | 7/22/2016 |
|
||||||||||||||||||||||||||||
| Advance Auto Parts | Savannah, GA | (b) |
|
|
|
|
|
|
|
(
|
) | 1995 | 7/22/2016 |
|
||||||||||||||||||||||||||||
| Advance Auto Parts | College Park, GA | (b) |
|
|
|
|
|
|
|
(
|
) | 1998 | 7/22/2016 |
|
||||||||||||||||||||||||||||
| Advance Auto Parts | Hattiesburg, MS | (b) |
|
|
|
|
|
|
|
(
|
) | 1997 | 7/22/2016 |
|
||||||||||||||||||||||||||||
| Advance Auto Parts | Gibsonton, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 1999 | 7/22/2016 |
|
||||||||||||||||||||||||||||
| Advance Auto Parts | Hialeah, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 1998 | 7/22/2016 |
|
||||||||||||||||||||||||||||
| Advance Auto Parts | Montgomery, AL | (b) |
|
|
|
|
|
|
|
(
|
) | 1999 | 7/22/2016 |
|
||||||||||||||||||||||||||||
| Advance Auto Parts | Greenfield, IN | (b) |
|
|
|
|
|
|
|
(
|
) | 2003 | 11/25/2019 |
|
||||||||||||||||||||||||||||
| Advance Auto Parts | Trenton, OH | (b) |
|
|
|
|
|
|
|
(
|
) | 2003 | 11/25/2019 |
|
||||||||||||||||||||||||||||
| Alabama Clinics | Dothan, AL | (b) |
|
|
|
|
|
|
|
(
|
) | 2012 | 12/21/2016 |
|
||||||||||||||||||||||||||||
| Alaska Club | Anchorage, AK | (b) |
|
|
|
|
|
|
|
(
|
) | 2006 | 8/15/2018 |
|
||||||||||||||||||||||||||||
| Alaska Club | Anchorage, AK | (b) |
|
|
|
|
|
|
|
(
|
) | 1972 | 8/15/2018 |
|
||||||||||||||||||||||||||||
| Alaska Club | Fairbanks, AK | (b) |
|
|
|
|
|
|
|
(
|
) | 1976 | 8/15/2018 |
|
||||||||||||||||||||||||||||
| Alaska Club | Wasilla, AK | (b) |
|
|
|
|
|
|
|
(
|
) | 1984 | 8/15/2018 |
|
||||||||||||||||||||||||||||
| Alaska Club | Anchorage, AK | (b) |
|
|
|
|
|
|
|
(
|
) | 1977 | 8/15/2018 |
|
||||||||||||||||||||||||||||
| Albertsons | Tigard, OR | (b) |
|
|
|
|
|
|
|
(
|
) | 1998 | 4/1/2015 |
|
||||||||||||||||||||||||||||
| Albertsons | Boise, ID | (b) |
|
|
|
|
|
|
|
(
|
) | 1982 | 12/17/2013 |
|
||||||||||||||||||||||||||||
| Albertsons | Las Cruces, NM | (b) |
|
|
|
|
|
|
|
(
|
) | 1983 | 12/17/2013 |
|
||||||||||||||||||||||||||||
| Albertsons | Midland, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 1983 | 12/17/2013 |
|
||||||||||||||||||||||||||||
| Aldi | Tupelo, MS | (b) |
|
|
(
|
) |
(
|
) |
|
|
|
(
|
) | 1995 | 7/17/2013 |
|
||||||||||||||||||||||||||
| Allstate Insurance Company | Yuma, AZ | (a) |
|
|
(
|
) |
(
|
) |
|
|
|
|
2007 | 7/17/2013 |
|
|||||||||||||||||||||||||||
| AMC Theatres | Covina, CA | (b) |
|
|
|
|
|
|
|
(
|
) | 1997 | 6/23/2004 |
|
||||||||||||||||||||||||||||
| AMC Theatres | Missoula, MT | (b) |
|
|
|
|
|
|
|
(
|
) | 1998 | 6/23/2004 |
|
||||||||||||||||||||||||||||
| AMC Theatres | Johnston, IA | (a) |
|
|
(
|
) |
(
|
) |
|
|
|
(
|
) | 1998 | 6/23/2004 |
|
||||||||||||||||||||||||||
| AMC Theatres | Yukon, OK | (a) |
|
|
|
|
|
|
|
(
|
) | 2007 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| America’s Service Station | Dacula, GA | (b) |
|
|
|
|
|
|
|
(
|
) | 2000 | 11/25/2019 |
|
||||||||||||||||||||||||||||
| America’s Service Station | Farragut, TN | (b) |
|
|
|
|
|
|
|
(
|
) | 2011 | 11/25/2019 |
|
||||||||||||||||||||||||||||
| Amigos United | Plainview, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 2000 | 8/25/2005 |
|
||||||||||||||||||||||||||||
| Amware Fulfillment | Morrow, GA | (b) |
|
|
|
|
|
|
|
(
|
) | 1969 | 11/10/2020 |
|
||||||||||||||||||||||||||||
| Andy’s Frozen Custard | Naperville, IL | (b) |
|
|
|
|
|
|
|
(
|
) | 2016 | 6/30/2016 |
|
||||||||||||||||||||||||||||
|
Initial Cost to Company
|
Cost Capitalized Subsequent to
Acquisition including
impairment
|
Gross Amount at
December 31, 2020
(d)
|
||||||||||||||||||||||||||||||||||||||||
|
Concept
|
City, State
|
Encumbrances
(c)
|
Land and
Improvements
|
Buildings and
Improvements
|
Land and
Improvements
|
Buildings and
Improvements
|
Land and
Improvements
|
Buildings and
Improvements
|
Total
|
Final
Accumulated
Depreciation
|
Date of
Construction
|
Date
Acquired
|
Life in which
depreciation in
latest
Statement of
Operations is
computed
|
|||||||||||||||||||||||||||||
| Andy’s Frozen Custard | Rogers, AR | (b) |
|
|
|
|
|
|
|
(
|
) | 2005 | 9/30/2014 |
|
||||||||||||||||||||||||||||
| Andy’s Frozen Custard | Orland Park, IL | (b) |
|
|
|
|
|
|
|
(
|
) | 2019 | 9/12/2016 |
|
||||||||||||||||||||||||||||
| Andy’s Frozen Custard | Kansas City, MO | (b) |
|
|
|
|
|
|
|
(
|
) | 1995 | 9/19/2014 |
|
||||||||||||||||||||||||||||
| Applebee’s | Augusta, GA | (b) |
|
|
|
|
|
|
|
(
|
) | 2005 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Applebee’s | Aurora, CO | (b) |
|
|
|
|
|
|
|
(
|
) | 1998 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Applebee’s | Colorado Springs, CO | (b) |
|
|
|
|
|
|
|
(
|
) | 1998 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Applebee’s | Albany, OR | (b) |
|
|
|
|
|
|
|
(
|
) | 2005 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Applebee’s | Macon, GA | (b) |
|
|
|
|
|
|
|
(
|
) | 1995 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Applebee’s | Walla Walla, WA | (b) |
|
|
|
|
|
|
|
(
|
) | 2005 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Applebee’s | Santa Fe, NM | (b) |
|
|
|
|
|
|
|
(
|
) | 1997 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Applebee’s | Columbus, GA | (b) |
|
|
|
|
|
|
|
(
|
) | 2005 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Applebee’s | Warner Robins, GA | (b) |
|
|
|
|
|
|
|
(
|
) | 1994 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Applebee’s | Loveland, CO | (b) |
|
|
|
|
|
|
|
(
|
) | 1997 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Applebee’s | Littleton, CO | (b) |
|
|
|
|
|
|
|
(
|
) | 1990 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Applebee’s | Union Gap, WA | (b) |
|
|
|
|
|
|
|
(
|
) | 2004 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Applebee’s | Gallup, NM | (b) |
|
|
|
|
|
|
|
(
|
) | 2004 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Applebee’s | Savannah, GA | (b) |
|
|
|
|
|
|
|
(
|
) | 1993 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Applebee’s | Columbus, GA | (b) |
|
|
|
|
|
|
|
(
|
) | 1993 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Applebee’s | Macon, GA | (b) |
|
|
|
|
|
|
|
(
|
) | 1995 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Applebee’s | Fountain, CO | (b) |
|
|
|
|
|
|
|
(
|
) | 2005 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Applebee’s | Aurora, CO | (b) |
|
|
|
|
|
|
|
(
|
) | 1992 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Applebee’s | Clovis, NM | (b) |
|
|
|
|
|
|
|
(
|
) | 2005 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Applebee’s | Grand Junction, CO | (b) |
|
|
|
|
|
|
|
(
|
) | 1995 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Applebee’s | Garden City, GA | (b) |
|
|
|
|
|
|
|
(
|
) | 1998 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Applebee’s | Longview, WA | (b) |
|
|
|
|
|
|
|
(
|
) | 2004 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Applebee’s | Chicago, IL | (b) |
|
|
|
|
|
|
|
(
|
) | 1999 | 11/25/2019 |
|
||||||||||||||||||||||||||||
| Arby’s | New Castle, PA | (b) |
|
|
|
|
|
|
|
(
|
) | 1999 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Arby’s | Jacksonville, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 1998 | 11/25/2019 |
|
||||||||||||||||||||||||||||
| Arby’s | Indianapolis, IN | (b) |
|
|
|
|
|
|
|
(
|
) | 1998 | 11/25/2019 |
|
||||||||||||||||||||||||||||
| Arby’s | North Canton, OH | (b) |
|
|
|
|
|
|
|
(
|
) | 1989 | 11/25/2019 |
|
||||||||||||||||||||||||||||
| Arby’s | Moncks Corner, SC | (b) |
|
|
|
|
|
|
|
(
|
) | 1998 | 11/25/2019 |
|
||||||||||||||||||||||||||||
| Arby’s | Martinsburg, WV | (b) |
|
|
|
|
|
|
|
(
|
) | 1999 | 11/25/2019 |
|
||||||||||||||||||||||||||||
| Arby’s | Champlin, MN | (b) |
|
|
|
|
|
|
|
(
|
) | 2004 | 3/20/2015 |
|
||||||||||||||||||||||||||||
| Arby’s | Sun City, AZ | (b) |
|
|
|
(
|
) |
|
|
|
(
|
) | 1986 | 11/25/2019 |
|
|||||||||||||||||||||||||||
| Arby’s | Tyler, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 1980 | 12/29/2015 |
|
||||||||||||||||||||||||||||
| Arby’s | Odessa, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 1982 | 12/29/2015 |
|
||||||||||||||||||||||||||||
|
Initial Cost to Company
|
Cost Capitalized Subsequent to
Acquisition including
impairment
|
Gross Amount at
December 31, 2020
(d)
|
||||||||||||||||||||||||||||||||||||||||
|
Concept
|
City, State
|
Encumbrances
(c)
|
Land and
Improvements
|
Buildings and
Improvements
|
Land and
Improvements
|
Buildings and
Improvements
|
Land and
Improvements
|
Buildings and
Improvements
|
Total
|
Final
Accumulated
Depreciation
|
Date of
Construction
|
Date
Acquired
|
Life in which
depreciation in
latest
Statement of
Operations is
computed
|
|||||||||||||||||||||||||||||
| Arby’s | Midland, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 1982 | 12/29/2015 |
|
||||||||||||||||||||||||||||
| Arby’s | Amarillo, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 1985 | 11/25/2019 |
|
||||||||||||||||||||||||||||
| Armacell | Yukon, OK | (b) |
|
|
|
|
|
|
|
(
|
) | 2005 | 11/10/2020 |
|
||||||||||||||||||||||||||||
| Ashley Furniture | Anderson, SC | (a) |
|
|
|
|
|
|
|
(
|
) | 2006 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Ashley Furniture | Amarillo, TX | (b) |
|
|
(
|
) |
(
|
) |
|
|
|
(
|
) | 2001 | 7/17/2013 |
|
||||||||||||||||||||||||||
| Ashley Furniture | Mount Juliet, TN | (b) |
|
|
|
|
|
|
|
(
|
) | 2008 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Ashley Furniture | El Paso, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 1973 | 11/25/2019 |
|
||||||||||||||||||||||||||||
| Ashley Furniture (f) | Maple Shade, NJ | (b) |
|
|
|
(
|
) |
|
|
|
(
|
) | 1998 | 7/17/2013 |
|
|||||||||||||||||||||||||||
| At Home | Mesa, AZ | (b) |
|
|
|
|
|
|
|
(
|
) | 2002 | 12/20/2016 |
|
||||||||||||||||||||||||||||
| At Home | Louisville, KY | (b) |
|
|
|
|
|
|
|
(
|
) | 1984 | 12/20/2016 |
|
||||||||||||||||||||||||||||
| At Home | Corpus Christi, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 1986 | 8/1/2016 |
|
||||||||||||||||||||||||||||
| At Home | Jenison, MI | (b) |
|
|
|
|
|
|
|
(
|
) | 1989 | 8/1/2016 |
|
||||||||||||||||||||||||||||
| At Home | Buford, GA | (b) |
|
|
|
|
|
|
|
(
|
) | 1984 | 8/1/2016 |
|
||||||||||||||||||||||||||||
| At Home | Broomfield, CO | (b) |
|
|
|
|
|
|
|
(
|
) | 1995 | 8/1/2016 |
|
||||||||||||||||||||||||||||
| At Home | Lubbock, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 1985 | 11/25/2019 |
|
||||||||||||||||||||||||||||
| At Home | Lutz, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 2018 | 7/24/2020 |
|
||||||||||||||||||||||||||||
| At Home | Whitehall, PA | (b) |
|
|
|
|
|
|
|
(
|
) | 2018 | 3/28/2019 |
|
||||||||||||||||||||||||||||
| At Home | Plano, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 2018 | 3/28/2019 |
|
||||||||||||||||||||||||||||
| At Home | Frederick, MD | (b) |
|
|
|
|
|
|
|
(
|
) | 2018 | 3/28/2019 |
|
||||||||||||||||||||||||||||
| At Home | Live Oak, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 2014 | 3/28/2019 |
|
||||||||||||||||||||||||||||
| At Home | Mansfield, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 2018 | 3/28/2019 |
|
||||||||||||||||||||||||||||
| AT&T | Santa Clara, CA | (b) |
|
|
|
|
|
|
|
(
|
) | 2002 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| ATC Fitness | Southaven, MS | (b) |
|
|
|
|
|
|
|
(
|
) | 2014 | 9/17/2014 |
|
||||||||||||||||||||||||||||
| Auria St. Clair | St Clair, MI | (b) |
|
|
|
|
|
|
|
(
|
) | 1991 | 1/9/2020 |
|
||||||||||||||||||||||||||||
| Avalon Flooring | Rio Grande, NJ | (b) |
|
|
|
|
|
|
|
(
|
) | 2006 | 3/31/2015 |
|
||||||||||||||||||||||||||||
| Bagger Dave’s Burger Tavern | Berkley, MI | (b) |
|
|
|
|
|
|
|
(
|
) | 1927 | 11/25/2019 |
|
||||||||||||||||||||||||||||
| Bagger Dave’s Burger Tavern | Grand Rapids, MI | (b) |
|
|
|
|
|
|
|
(
|
) | 1985 | 11/25/2019 |
|
||||||||||||||||||||||||||||
| Bank of America | Delray Beach, FL | (a) |
|
|
|
|
|
|
|
(
|
) | 1975 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Bank of America | Hunt Valley, MD | (b) |
|
|
|
|
|
|
|
(
|
) | 1974 | 9/26/2019 |
|
||||||||||||||||||||||||||||
| Best Buy | Wichita, KS | (b) |
|
|
|
|
|
|
|
(
|
) | 1984 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Best Buy | Fayetteville, NC | (a) |
|
|
|
|
|
|
|
(
|
) | 1999 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Best Buy | Evanston, IL | (b) |
|
|
|
|
|
|
|
(
|
) | 1993 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Best Buy | Las Cruces, NM | (b) |
|
|
|
|
|
|
|
(
|
) | 2002 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Big Lots (f) | Whiteville, NC | (b) |
|
|
|
|
|
|
|
(
|
) | 1988 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Big Sandy Furniture | South Point, OH | (b) |
|
|
|
|
|
|
|
(
|
) | 1990 | 11/25/2019 |
|
||||||||||||||||||||||||||||
| Big Sandy Furniture | Parkersburg, WV | (b) |
|
|
|
|
|
|
|
(
|
) | 1976 | 11/25/2019 |
|
||||||||||||||||||||||||||||
| Big Sandy Furniture | Portsmouth, OH | (b) |
|
|
|
|
|
|
|
(
|
) | 1988 | 11/25/2019 |
|
||||||||||||||||||||||||||||
| Big Sandy Furniture | Ashland, KY | (b) |
|
|
|
|
|
|
|
(
|
) | 1993 | 11/25/2019 |
|
||||||||||||||||||||||||||||
|
Initial Cost to Company
|
Cost Capitalized Subsequent to
Acquisition including
impairment
|
Gross Amount at
December 31, 2020
(d)
|
||||||||||||||||||||||||||||||||||||||||
|
Concept
|
City, State
|
Encumbrances
(c)
|
Land and
Improvements
|
Buildings and
Improvements
|
Land and
Improvements
|
Buildings and
Improvements
|
Land and
Improvements
|
Buildings and
Improvements
|
Total
|
Final
Accumulated
Depreciation
|
Date of
Construction
|
Date
Acquired
|
Life in which
depreciation in
latest
Statement of
Operations is
computed
|
|||||||||||||||||||||||||||||
| Big Sandy Furniture | Chillicothe, OH | (b) |
|
|
|
|
|
|
|
(
|
) | 1995 | 11/25/2019 |
|
||||||||||||||||||||||||||||
| Big Sandy Furniture | Ashland, KY | (b) |
|
|
|
|
|
|
|
(
|
) | 1990 | 11/25/2019 |
|
||||||||||||||||||||||||||||
| Big Sandy Furniture | Hurricane, WV | (b) |
|
|
|
|
|
|
|
(
|
) | 1998 | 11/25/2019 |
|
||||||||||||||||||||||||||||
| Bi-Lo | Hartsville, SC | (b) |
|
|
|
|
|
|
|
(
|
) | 1988 | 9/30/2014 |
|
||||||||||||||||||||||||||||
| BJ’s Wholesale Club | Fort Lauderdale, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 2007 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| BJ’s Wholesale Club | Woodstock, GA | (a) |
|
|
|
|
|
|
|
(
|
) | 2001 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| BJ’s Wholesale Club | Haverhill, MA | (b) |
|
|
|
|
|
|
|
(
|
) | 2007 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| BJ’s Wholesale Club | Tampa, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 1993 | 1/10/2017 |
|
||||||||||||||||||||||||||||
| BJ’s Wholesale Club | Taylor, MI | (b) |
|
|
|
|
|
|
|
(
|
) | 2019 | 12/12/2019 |
|
||||||||||||||||||||||||||||
| BJ’s Wholesale Club | Pineville, NC | (b) |
|
|
|
|
|
|
|
(
|
) | 1999 | 1/31/2020 |
|
||||||||||||||||||||||||||||
| BJ’s Wholesale Club | Chesterfield, MI | (b) |
|
|
|
|
|
|
|
(
|
) | 2020 | 9/15/2020 |
|
||||||||||||||||||||||||||||
| BJ’s Wholesale Club | Millsboro, DE | (b) |
|
|
|
|
|
|
|
|
2008 | 12/15/2020 |
|
|||||||||||||||||||||||||||||
| Bojangles’ | Hickory, NC | (b) |
|
|
|
|
|
|
|
(
|
) | 1995 | 11/25/2019 |
|
||||||||||||||||||||||||||||
| Books-A-Million | Rapid City, SD | (b) |
|
|
|
|
|
|
|
(
|
) | 2001 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Boscovs | Voorhees, NJ | (b) |
|
|
|
|
|
|
|
(
|
) | 1970 | 11/25/2019 |
|
||||||||||||||||||||||||||||
| Brookshire Brothers | Cleveland, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 1991 | 12/1/2005 |
|
||||||||||||||||||||||||||||
| Brookshire Brothers | Corrigan, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 1971 | 12/1/2005 |
|
||||||||||||||||||||||||||||
| Brookshire Brothers | Diboll, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 1974 | 12/1/2005 |
|
||||||||||||||||||||||||||||
| Brookshire Brothers | Lufkin, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 1977 | 12/1/2005 |
|
||||||||||||||||||||||||||||
| Brookshire Brothers | Navasota, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 1992 | 12/1/2005 |
|
||||||||||||||||||||||||||||
| Brookshire Brothers | Timpson, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 1978 | 12/1/2005 |
|
||||||||||||||||||||||||||||
| Brookshire Brothers | Hallettsville, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 2004 | 3/31/2014 |
|
||||||||||||||||||||||||||||
| Buffalo Wild Wings | Gaylord, MI | (b) |
|
|
|
|
|
|
|
(
|
) | 2014 | 11/25/2019 |
|
||||||||||||||||||||||||||||
| Buffalo Wild Wings | Wesley Chapel, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 2015 | 8/18/2015 |
|
||||||||||||||||||||||||||||
| Buffalo Wild Wings | Birch Run, MI | (b) |
|
|
|
|
|
|
|
(
|
) | 2014 | 12/24/2014 |
|
||||||||||||||||||||||||||||
| Buffalo Wild Wings | Clinton Township, MI | (b) |
|
|
|
|
|
|
|
(
|
) | 2003 | 11/5/2014 |
|
||||||||||||||||||||||||||||
| Buffalo Wild Wings | Brandon, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 2004 | 11/5/2014 |
|
||||||||||||||||||||||||||||
| Burger King | Saint Ann, MO | (b) |
|
|
|
|
|
|
|
(
|
) | 1985 | 11/25/2019 |
|
||||||||||||||||||||||||||||
| Burger King | Garner, NC | (b) |
|
|
|
|
|
|
|
(
|
) | 1995 | 9/29/2006 |
|
||||||||||||||||||||||||||||
| Burger King | Fayetteville, NC | (b) |
|
|
|
|
|
|
|
(
|
) | 1996 | 9/29/2006 |
|
||||||||||||||||||||||||||||
| Burger King | Springfield, IL | (b) |
|
|
|
|
|
|
|
(
|
) | 1988 | 11/25/2019 |
|
||||||||||||||||||||||||||||
| Burger King | Louisville, KY | (b) |
|
|
|
|
|
|
|
(
|
) | 1994 | 11/25/2019 |
|
||||||||||||||||||||||||||||
| Burger King | Buffalo, NY | (b) |
|
|
|
|
|
|
|
(
|
) | 1993 | 11/25/2019 |
|
||||||||||||||||||||||||||||
| Burger King | Buffalo, NY | (b) |
|
|
|
|
|
|
|
(
|
) | 1976 | 11/25/2019 |
|
||||||||||||||||||||||||||||
| Burger King | Springville, NY | (b) |
|
|
|
|
|
|
|
(
|
) | 1988 | 11/25/2019 |
|
||||||||||||||||||||||||||||
| Burger King | Cheektowaga, NY | (b) |
|
|
|
|
|
|
|
(
|
) | 1985 | 11/25/2019 |
|
||||||||||||||||||||||||||||
| Burger King | Fayetteville, NC | (b) |
|
|
|
|
|
|
|
(
|
) | 1987 | 11/25/2019 |
|
||||||||||||||||||||||||||||
|
Initial Cost to Company
|
Cost Capitalized Subsequent to
Acquisition including
impairment
|
Gross Amount at
December 31, 2020
(d)
|
||||||||||||||||||||||||||||||||||||||||
|
Concept
|
City, State
|
Encumbrances
(c)
|
Land and
Improvements
|
Buildings and
Improvements
|
Land and
Improvements
|
Buildings and
Improvements
|
Land and
Improvements
|
Buildings and
Improvements
|
Total
|
Final
Accumulated
Depreciation
|
Date of
Construction
|
Date
Acquired
|
Life in which
depreciation in
latest
Statement of
Operations is
computed
|
|||||||||||||||||||||||||||||
| Burger King | Lillington, NC | (b) |
|
|
|
(
|
) |
|
|
|
(
|
) | 1992 | 11/25/2019 |
|
|||||||||||||||||||||||||||
| Burger King | Decatur, IL | (b) |
|
|
|
|
|
|
|
(
|
) | 1992 | 11/25/2019 |
|
||||||||||||||||||||||||||||
| Burger King | Durham, NC | (b) |
|
|
|
|
|
|
|
|
(e) | 7/17/2013 | (e) | |||||||||||||||||||||||||||||
| Burger King | Mebane, NC | (b) |
|
|
|
|
|
|
|
(
|
) | 1993 | 9/29/2006 |
|
||||||||||||||||||||||||||||
| Burger King | Apopka, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 1977 | 11/25/2019 |
|
||||||||||||||||||||||||||||
| Burger King | Orlando, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 1985 | 11/25/2019 |
|
||||||||||||||||||||||||||||
| Burger King | Gilman, IL | (b) |
|
|
|
|
|
|
|
(
|
) | 1998 | 11/25/2019 |
|
||||||||||||||||||||||||||||
| Caliber Collision | Suwanee, GA | (b) |
|
|
|
|
|
|
|
(
|
) | 1986 | 11/25/2019 |
|
||||||||||||||||||||||||||||
| Caliber Collision | Conroe, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 2016 | 12/28/2016 |
|
||||||||||||||||||||||||||||
| Caliber Collision | Houston, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 2016 | 3/16/2017 |
|
||||||||||||||||||||||||||||
| Camping World | Poteau, OK | (b) |
|
|
|
|
|
|
|
(
|
) | 2015 | 3/22/2017 |
|
||||||||||||||||||||||||||||
| Camping World | Wentzville, MO | (b) |
|
|
|
|
|
|
|
(
|
) | 2015 | 3/27/2015 |
|
||||||||||||||||||||||||||||
| Camping World | Tulsa, OK | (b) |
|
|
|
|
|
|
|
(
|
) | 2016 | 12/15/2016 |
|
||||||||||||||||||||||||||||
| Camping World | Summerfield, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 2004 | 8/29/2016 |
|
||||||||||||||||||||||||||||
| Camping World | Monticello, MN | (b) |
|
|
|
|
|
|
|
(
|
) | 2016 | 12/29/2016 |
|
||||||||||||||||||||||||||||
| Camping World | Biloxi, MS | (b) |
|
|
|
|
|
|
|
(
|
) | 2016 | 12/22/2016 |
|
||||||||||||||||||||||||||||
| Camping World | Kenosha, WI | (b) |
|
|
|
|
|
|
|
(
|
) | 2004 | 11/25/2019 |
|
||||||||||||||||||||||||||||
| Camping World | Saukville, WI | (b) |
|
|
|
|
|
|
|
(
|
) | 2014 | 11/25/2019 |
|
||||||||||||||||||||||||||||
| Car Wash USA Express | Van Buren, AR | (b) |
|
|
|
|
|
|
|
(
|
) | 2018 | 9/27/2019 |
|
||||||||||||||||||||||||||||
| Car Wash USA Express | Oneonta, AL | (b) |
|
|
|
|
|
|
|
(
|
) | 2013 | 9/27/2019 |
|
||||||||||||||||||||||||||||
| Car Wash USA Express | Chillicothe, OH | (b) |
|
|
|
|
|
|
|
(
|
) | 2017 | 9/27/2019 |
|
||||||||||||||||||||||||||||
| Car Wash USA Express | Memphis, TN | (b) |
|
|
|
|
|
|
|
(
|
) | 2014 | 9/27/2019 |
|
||||||||||||||||||||||||||||
| Car Wash USA Express | Birmingham, AL | (b) |
|
|
|
|
|
|
|
(
|
) | 2004 | 9/27/2019 |
|
||||||||||||||||||||||||||||
| Car Wash USA Express | Hernando, MS | (b) |
|
|
|
|
|
|
|
(
|
) | 2015 | 9/27/2019 |
|
||||||||||||||||||||||||||||
| Car Wash USA Express | Fort Smith, AR | (b) |
|
|
|
|
|
|
|
(
|
) | 2017 | 9/27/2019 |
|
||||||||||||||||||||||||||||
| Car Wash USA Express | Boaz, AL | (b) |
|
|
|
|
|
|
|
(
|
) | 2011 | 9/27/2019 |
|
||||||||||||||||||||||||||||
| Car Wash USA Express | Corinth, MS | (b) |
|
|
|
|
|
|
|
(
|
) | 2011 | 9/27/2019 |
|
||||||||||||||||||||||||||||
| Car Wash USA Express | Madisonville, KY | (b) |
|
|
|
|
|
|
|
(
|
) | 2018 | 9/27/2019 |
|
||||||||||||||||||||||||||||
| Car Wash USA Express | Sylacauga, AL | (b) |
|
|
|
|
|
|
|
(
|
) | 2017 | 9/27/2019 |
|
||||||||||||||||||||||||||||
| Car Wash USA Express | Springfield, OH | (b) |
|
|
|
|
|
|
|
(
|
) | 2014 | 9/27/2019 |
|
||||||||||||||||||||||||||||
| Car Wash USA Express | Dothan, AL | (b) |
|
|
|
|
|
|
|
(
|
) | 2008 | 9/27/2019 |
|
||||||||||||||||||||||||||||
| Car Wash USA Express | Oakland, TN | (b) |
|
|
|
|
|
|
|
(
|
) | 2017 | 9/27/2019 |
|
||||||||||||||||||||||||||||
| Car Wash USA Express | Rainbow City, AL | (b) |
|
|
|
|
|
|
|
(
|
) | 1998 | 9/27/2019 |
|
||||||||||||||||||||||||||||
| Car Wash USA Express | Birmingham, AL | (b) |
|
|
|
|
|
|
|
(
|
) | 2006 | 9/27/2019 |
|
||||||||||||||||||||||||||||
| Car Wash USA Express | Rome, GA | (b) |
|
|
|
|
|
|
|
(
|
) | 2007 | 9/27/2019 |
|
||||||||||||||||||||||||||||
| Car Wash USA Express | Conway, AR | (b) |
|
|
|
|
|
|
|
(
|
) | 2018 | 9/27/2019 |
|
||||||||||||||||||||||||||||
| Car Wash USA Express | Warner Robins, GA | (b) |
|
|
|
|
|
|
|
(
|
) | 2013 | 9/27/2019 |
|
||||||||||||||||||||||||||||
|
Initial Cost to Company
|
Cost Capitalized Subsequent to
Acquisition including
impairment
|
Gross Amount at
December 31, 2020
(d)
|
||||||||||||||||||||||||||||||||||||||||
|
Concept
|
City, State
|
Encumbrances
(c)
|
Land and
Improvements
|
Buildings and
Improvements
|
Land and
Improvements
|
Buildings and
Improvements
|
Land and
Improvements
|
Buildings and
Improvements
|
Total
|
Final
Accumulated
Depreciation
|
Date of
Construction
|
Date
Acquired
|
Life in which
depreciation in
latest
Statement of
Operations is
computed
|
|||||||||||||||||||||||||||||
| Car Wash USA Express | Douglas, GA | (b) |
|
|
|
|
|
|
|
(
|
) | 2011 | 9/27/2019 |
|
||||||||||||||||||||||||||||
| Car Wash USA Express | Olive Branch, MS | (b) |
|
|
|
|
|
|
|
(
|
) | 2006 | 9/27/2019 |
|
||||||||||||||||||||||||||||
| Car Wash USA Express | Orem, UT | (b) |
|
|
|
|
|
|
|
(
|
) | 2005 | 9/27/2019 |
|
||||||||||||||||||||||||||||
| Car Wash USA Express | Memphis, TN | (b) |
|
|
|
|
|
|
|
(
|
) | 2008 | 9/27/2019 |
|
||||||||||||||||||||||||||||
| Car Wash USA Express | Centre, AL | (b) |
|
|
|
|
|
|
|
(
|
) | 2012 | 9/27/2019 |
|
||||||||||||||||||||||||||||
| CarMax | Ontario, CA | (b) |
|
|
|
(
|
) |
|
|
|
(
|
) | 2005 | 6/30/2005 |
|
|||||||||||||||||||||||||||
| CarMax | Pompano Beach, FL | (b) |
|
|
|
(
|
) |
|
|
|
(
|
) | 2004 | 6/30/2005 |
|
|||||||||||||||||||||||||||
| CarMax | Midlothian, VA | (b) |
|
|
|
(
|
) |
|
|
|
(
|
) | 2004 | 6/30/2005 |
|
|||||||||||||||||||||||||||
| CarMax | Pineville, NC | (a) |
|
|
|
|
|
|
|
(
|
) | 2002 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| CarMax | Greenville, SC | (b) |
|
|
|
|
|
|
|
(
|
) | 1999 | 11/25/2019 |
|
||||||||||||||||||||||||||||
| CarMax | Kennesaw, GA | (b) |
|
|
|
|
|
|
|
(
|
) | 1995 | 11/25/2019 |
|
||||||||||||||||||||||||||||
| CarMax | Raleigh, NC | (b) |
|
|
|
|
|
|
|
(
|
) | 1994 | 11/25/2019 |
|
||||||||||||||||||||||||||||
| Carrington College | Mesquite, TX | (b) |
|
|
(
|
) |
(
|
) |
|
|
|
|
1996 | 7/17/2013 |
|
|||||||||||||||||||||||||||
| Chapala | Boise, ID | (b) |
|
|
|
|
|
|
|
(
|
) | 1998 | 11/25/2019 |
|
||||||||||||||||||||||||||||
| Charleston’s Restaurant | Norman, OK | (b) |
|
|
|
|
|
|
|
(
|
) | 1992 | 11/25/2019 |
|
||||||||||||||||||||||||||||
| Charleston’s Restaurant | Tulsa, OK | (b) |
|
|
|
|
|
|
|
(
|
) | 2002 | 11/25/2019 |
|
||||||||||||||||||||||||||||
| Chick-Fil-A | Carrollton, GA | (b) |
|
|
|
|
|
|
|
(
|
) | 1995 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Childcare Network | East Point, GA | (b) |
|
|
|
|
|
|
|
(
|
) | 2016 | 12/13/2016 |
|
||||||||||||||||||||||||||||
| Childcare Network | Elon, NC | (b) |
|
|
|
|
|
|
|
(
|
) | 1998 | 12/2/2016 |
|
||||||||||||||||||||||||||||
| Childcare Network |
Winston-Salem, NC
|
(b) |
|
|
|
|
|
|
|
(
|
) | 1993 | 12/2/2016 |
|
||||||||||||||||||||||||||||
| Childcare Network | Greensboro, NC | (b) |
|
|
|
|
|
|
|
(
|
) | 1949 | 12/2/2016 |
|
||||||||||||||||||||||||||||
| Childcare Network | Burlington, NC | (b) |
|
|
|
|
|
|
|
(
|
) | 1971 | 12/13/2016 |
|
||||||||||||||||||||||||||||
| Childcare Network | Grand Prairie, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 2007 | 7/17/2015 |
|
||||||||||||||||||||||||||||
| Childcare Network | Denton, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 2000 | 7/17/2015 |
|
||||||||||||||||||||||||||||
| Childcare Network | Fort Worth, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 2006 | 7/17/2015 |
|
||||||||||||||||||||||||||||
| Childcare Network | Columbus, GA | (b) |
|
|
|
|
|
|
|
(
|
) | 2015 | 12/22/2015 |
|
||||||||||||||||||||||||||||
| Childcare Network | High Point, NC | (b) |
|
|
|
|
|
|
|
(
|
) | 1981 | 12/22/2015 |
|
||||||||||||||||||||||||||||
| Childcare Network | Hampton, GA | (b) |
|
|
|
|
|
|
|
(
|
) | 2005 | 12/22/2015 |
|
||||||||||||||||||||||||||||
| Childcare Network | Warner Robins, GA | (b) |
|
|
|
|
|
|
|
(
|
) | 1995 | 2/27/2015 |
|
||||||||||||||||||||||||||||
| Childcare Network | Fort Walton Beach, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 1977 | 2/27/2015 |
|
||||||||||||||||||||||||||||
| Childcare Network | Sanford, NC | (b) |
|
|
|
|
|
|
|
(
|
) | 2002 | 2/27/2015 |
|
||||||||||||||||||||||||||||
| Childcare Network | Norcross, GA | (b) |
|
|
|
|
|
|
|
(
|
) | 1985 | 3/30/2015 |
|
||||||||||||||||||||||||||||
| Childcare Network | Evans, GA | (b) |
|
|
|
|
|
|
|
(
|
) | 2003 | 11/14/2014 |
|
||||||||||||||||||||||||||||
| Childcare Network | Stockbridge, GA | (b) |
|
|
|
(
|
) |
|
|
|
(
|
) | 2000 | 10/31/2014 |
|
|||||||||||||||||||||||||||
| Childcare Network | Marietta, GA | (b) |
|
|
|
|
|
|
|
(
|
) | 2009 | 9/28/2016 |
|
||||||||||||||||||||||||||||
| Childcare Network | Chattanooga, TN | (b) |
|
|
|
|
|
|
|
(
|
) | 1999 | 9/28/2016 |
|
||||||||||||||||||||||||||||
| Childcare Network | Pensacola, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 2016 | 2/23/2017 |
|
||||||||||||||||||||||||||||
|
Initial Cost to Company
|
Cost Capitalized Subsequent to
Acquisition including
impairment
|
Gross Amount at
December 31, 2020
(d)
|
||||||||||||||||||||||||||||||||||||||||
|
Concept
|
City, State
|
Encumbrances
(c)
|
Land and
Improvements
|
Buildings and
Improvements
|
Land and
Improvements
|
Buildings and
Improvements
|
Land and
Improvements
|
Buildings and
Improvements
|
Total
|
Final
Accumulated
Depreciation
|
Date of
Construction
|
Date
Acquired
|
Life in which
depreciation in
latest
Statement of
Operations is
computed
|
|||||||||||||||||||||||||||||
| Childtime | Cuyahoga Falls, OH | (b) |
|
|
|
|
|
|
|
(
|
) | 1974 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Childtime | Arlington, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 2006 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Childtime | Oklahoma City, OK | (b) |
|
|
|
|
|
|
|
(
|
) | 1985 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Childtime | Rochester, NY | (b) |
|
|
|
|
|
|
|
(
|
) | 1981 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Childtime | Modesto, CA | (b) |
|
|
|
|
|
|
|
(
|
) | 1986 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Childtime | Morrisville, NC | (b) |
|
|
|
|
|
|
|
(
|
) | 2010 | 2/19/2015 |
|
||||||||||||||||||||||||||||
| Chili’s | Paris, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 1999 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Chili’s | Tilton, NH | (b) |
|
|
|
|
|
|
|
|
(e) | 7/17/2013 | (e) | |||||||||||||||||||||||||||||
| Chili’s | Fredericksburg, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 1985 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Chuck-A-Rama and Grub Steak | Ogden, UT | (b) |
|
|
|
|
|
|
|
(
|
) | 1998 | 1/22/2019 |
|
||||||||||||||||||||||||||||
| Chuck-A-Rama and Grub Steak | Orem, UT | (b) |
|
|
|
|
|
|
|
(
|
) | 1991 | 1/22/2019 |
|
||||||||||||||||||||||||||||
| Chuck-A-Rama and Grub Steak | Lehi, UT | (b) |
|
|
|
|
|
|
|
(
|
) | 2011 | 1/22/2019 |
|
||||||||||||||||||||||||||||
| Chuck-A-Rama and Grub Steak | Ammon, ID | (b) |
|
|
|
|
|
|
|
(
|
) | 2003 | 1/22/2019 |
|
||||||||||||||||||||||||||||
| Chuck-A-Rama and Grub Steak | Park City, UT | (b) |
|
|
|
|
|
|
|
(
|
) | 1978 | 1/22/2019 |
|
||||||||||||||||||||||||||||
| Chuck-A-Rama and Grub Steak | Bountiful, UT | (b) |
|
|
|
|
|
|
|
(
|
) | 1995 | 1/22/2019 |
|
||||||||||||||||||||||||||||
| Chuck-A-Rama and Grub Steak | Boise, ID | (b) |
|
|
|
|
|
|
|
(
|
) | 1998 | 1/22/2019 |
|
||||||||||||||||||||||||||||
| Chuck-A-Rama and Grub Steak | Provo, UT | (b) |
|
|
|
|
|
|
|
(
|
) | 1990 | 1/22/2019 |
|
||||||||||||||||||||||||||||
| Chuck-A-Rama and Grub Steak | Draper, UT | (b) |
|
|
|
|
|
|
|
(
|
) | 2004 | 1/22/2019 |
|
||||||||||||||||||||||||||||
| Chuck-A-Rama and Grub Steak | St. George, UT | (b) |
|
|
|
|
|
|
|
(
|
) | 1995 | 1/22/2019 |
|
||||||||||||||||||||||||||||
| Chuck-A-Rama and Grub Steak | Murray, UT | (b) |
|
|
|
|
|
|
|
(
|
) | 1996 | 1/22/2019 |
|
||||||||||||||||||||||||||||
| Chuck-A-Rama and Grub Steak | Salt Lake City, UT | (b) |
|
|
|
|
|
|
|
(
|
) | 1964 | 1/22/2019 |
|
||||||||||||||||||||||||||||
| Chuck-A-Rama and Grub Steak | Logan, UT | (b) |
|
|
|
|
|
|
|
(
|
) | 2011 | 1/22/2019 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | Balch Springs, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 1986 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | Rio Grand City, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 1984 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | Fort Worth, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 1965 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | Midland, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 1972 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | Columbus, GA | (b) |
|
|
|
|
|
|
|
(
|
) | 1983 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | Carrolton, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 1997 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | Phoenix, AZ | (b) |
|
|
|
|
|
|
|
(
|
) | 1974 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | Tucson, AZ | (b) |
|
|
|
|
|
|
|
(
|
) | 1981 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | Brownsville, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 1985 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | Abilene, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 1975 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | San Antonio, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 1976 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | San Antonio, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 1968 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | Montgomery, AL | (b) |
|
|
|
|
|
|
|
(
|
) | 1999 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | Kansas City, MO | (b) |
|
|
|
|
|
|
|
(
|
) | 1996 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | Port Lavaca, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 1985 | 7/17/2013 |
|
||||||||||||||||||||||||||||
|
Initial Cost to Company
|
Cost Capitalized Subsequent to
Acquisition including
impairment
|
Gross Amount at
December 31, 2020
(d)
|
||||||||||||||||||||||||||||||||||||||||
|
Concept
|
City, State
|
Encumbrances
(c)
|
Land and
Improvements
|
Buildings and
Improvements
|
Land and
Improvements
|
Buildings and
Improvements
|
Land and
Improvements
|
Buildings and
Improvements
|
Total
|
Final
Accumulated
Depreciation
|
Date of
Construction
|
Date
Acquired
|
Life in which
depreciation in
latest
Statement of
Operations is
computed
|
|||||||||||||||||||||||||||||
| Church’s Chicken | Dallas, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 1968 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | Oro Valley, AZ | (b) |
|
|
|
|
|
|
|
(
|
) | 1983 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | McAllen, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 1985 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | Memphis, TN | (b) |
|
|
|
|
|
|
|
(
|
) | 1971 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | Kansas City, MO | (b) |
|
|
|
|
|
|
|
(
|
) | 1996 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | Edinburg, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 1985 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | North Little Rock, AR | (b) |
|
|
|
|
|
|
|
(
|
) | 1999 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | Grand Prairie, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 1985 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | Phoenix, AZ | (b) |
|
|
|
|
|
|
|
(
|
) | 1977 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | Pine Bluff, AR | (b) |
|
|
|
|
|
|
|
(
|
) | 1971 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | Oklahoma City, OK | (b) |
|
|
|
|
|
|
|
(
|
) | 1998 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | San Antonio, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 1965 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | Jackson, MS | (b) |
|
|
|
|
|
|
|
(
|
) | 2000 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | Victoria, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 1985 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | Richland Hills, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 1999 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | Brownsville, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 2000 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | Tulsa, OK | (b) |
|
|
|
|
|
|
|
(
|
) | 1976 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | Dallas, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 1985 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | Pleasanton, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 1985 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | Tyler, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 1976 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | Oklahoma City, OK | (b) |
|
|
|
|
|
|
|
(
|
) | 1971 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | Laurel, MS | (b) |
|
|
|
|
|
|
|
(
|
) | 1971 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | Atlanta, GA | (b) |
|
|
|
|
|
|
|
(
|
) | 1981 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | Garland, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 1986 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | LaGrange, GA | (b) |
|
|
|
|
|
|
|
(
|
) | 1978 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | McAllen, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 1992 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | Decatur, GA | (b) |
|
|
|
|
|
|
|
(
|
) | 1979 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | East Point, GA | (b) |
|
|
|
|
|
|
|
(
|
) | 1977 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | Brownsville, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 2002 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | Macon, GA | (b) |
|
|
|
|
|
|
|
(
|
) | 1983 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | Kingsville, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 1977 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | Atlanta, GA | (b) |
|
|
|
|
|
|
|
(
|
) | 1980 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | Victoria, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 1984 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | Norfolk, VA | (b) |
|
|
|
|
|
|
|
(
|
) | 1988 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | Dallas, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 1999 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | Austin, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 1976 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | Atlanta, GA | (b) |
|
|
|
|
|
|
|
(
|
) | 1975 | 7/17/2013 |
|
||||||||||||||||||||||||||||
|
Initial Cost to Company
|
Cost Capitalized Subsequent to
Acquisition including
impairment
|
Gross Amount at
December 31, 2020
(d)
|
||||||||||||||||||||||||||||||||||||||||
|
Concept
|
City, State
|
Encumbrances
(c)
|
Land and
Improvements
|
Buildings and
Improvements
|
Land and
Improvements
|
Buildings and
Improvements
|
Land and
Improvements
|
Buildings and
Improvements
|
Total
|
Final
Accumulated
Depreciation
|
Date of
Construction
|
Date
Acquired
|
Life in which
depreciation in
latest
Statement of
Operations is
computed
|
|||||||||||||||||||||||||||||
| Church’s Chicken | Donna, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 1984 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | Montgomery, AL | (b) |
|
|
|
|
|
|
|
(
|
) | 1999 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | Phoenix, AZ | (b) |
|
|
|
|
|
|
|
(
|
) | 1980 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | Brownsville, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 1977 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | Phoenix, AZ | (b) |
|
|
|
|
|
|
|
(
|
) | 1976 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | Elsa, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 1984 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | Birmingham, AL | (b) |
|
|
|
|
|
|
|
(
|
) | 1983 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | Marietta, GA | (b) |
|
|
|
|
|
|
|
(
|
) | 1976 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | Memphis, TN | (b) |
|
|
|
|
|
|
|
(
|
) | 1971 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | Copperas Cove, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 1973 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | Irving, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 1967 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | New Braunfels, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 1973 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | Kirby, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 1985 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | Memphis, TN | (b) |
|
|
|
|
|
|
|
(
|
) | 1979 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | Hobbs, NM | (b) |
|
|
|
|
|
|
|
(
|
) | 1974 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | San Antonio, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 1967 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | Little Rock, AR | (b) |
|
|
|
|
|
|
|
(
|
) | 1971 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | Greenville, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 1972 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | Columbus, GA | (b) |
|
|
|
|
|
|
|
(
|
) | 1978 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | Portsmouth, VA | (b) |
|
|
|
|
|
|
|
(
|
) | 1988 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | Jackson, MS | (b) |
|
|
|
|
|
|
|
(
|
) | 1978 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | Phoenix, AZ | (b) |
|
|
|
|
|
|
|
(
|
) | 1974 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | Floresville, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 1985 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | Montgomery, AL | (b) |
|
|
|
|
|
|
|
(
|
) | 1998 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | Alamo, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 1984 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | Mission, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 1981 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | Kansas City, MO | (b) |
|
|
|
|
|
|
|
(
|
) | 1996 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | Cleburne, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 1997 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | Brownsville, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 1985 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | Decatur, GA | (b) |
|
|
|
|
|
|
|
(
|
) | 1981 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | Odessa, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 1972 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | Memphis, TN | (b) |
|
|
|
|
|
|
|
(
|
) | 1971 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | Kansas City, MO | (b) |
|
|
|
|
|
|
|
(
|
) | 1996 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | Phoenix, AZ | (b) |
|
|
|
|
|
|
|
(
|
) | 1975 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | Kansas City, MO | (b) |
|
|
|
|
|
|
|
(
|
) | 1996 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | Eagle Pass, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 1977 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | Phenix City, AL | (b) |
|
|
|
|
|
|
|
(
|
) | 1978 | 7/17/2013 |
|
||||||||||||||||||||||||||||
|
Initial Cost to Company
|
Cost Capitalized Subsequent to
Acquisition including
impairment
|
Gross Amount at
December 31, 2020
(d)
|
||||||||||||||||||||||||||||||||||||||||
|
Concept
|
City, State
|
Encumbrances
(c)
|
Land and
Improvements
|
Buildings and
Improvements
|
Land and
Improvements
|
Buildings and
Improvements
|
Land and
Improvements
|
Buildings and
Improvements
|
Total
|
Final
Accumulated
Depreciation
|
Date of
Construction
|
Date
Acquired
|
Life in which
depreciation in
latest
Statement of
Operations is
computed
|
|||||||||||||||||||||||||||||
| Church’s Chicken | Mercedes, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 1982 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | Tucson, AZ | (b) |
|
|
|
|
|
|
|
(
|
) | 1980 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | Dallas, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 1969 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | Raymondville, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 1984 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | Temple, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 1983 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | Pharr, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 1997 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | Midwest City, OK | (b) |
|
|
|
|
|
|
|
(
|
) | 1985 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | San Antonio, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 1971 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | Vicksburg, MS | (b) |
|
|
|
|
|
|
|
(
|
) | 1972 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | Lewisville, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 1976 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | Nogales, AZ | (b) |
|
|
|
|
|
|
|
(
|
) | 1976 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | Roma, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 1985 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | Little Rock, AR | (b) |
|
|
|
|
|
|
|
(
|
) | 1975 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | Jackson, MS | (b) |
|
|
|
|
|
|
|
(
|
) | 1977 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | Montgomery, AL | (b) |
|
|
|
|
|
|
|
(
|
) | 1972 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | Roswell, NM | (b) |
|
|
|
|
|
|
|
(
|
) | 1974 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | Haltom City, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 2007 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | Tulsa, OK | (b) |
|
|
|
|
|
|
|
(
|
) | 1976 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | San Benito, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 1977 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | Americus, GA | (b) |
|
|
|
|
|
|
|
(
|
) | 1978 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | Altus, OK | (b) |
|
|
|
|
|
|
|
(
|
) | 1980 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | Memphis, TN | (b) |
|
|
|
|
|
|
|
(
|
) | 1976 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | San Antonio, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 1984 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | Lubbock, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 2004 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | Harlingen, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 1973 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | Kansas City, MO | (b) |
|
|
|
|
|
|
|
(
|
) | 1996 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | Fort Worth, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 1965 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | San Antonio, TX | (b) |
|
|
(
|
) |
(
|
) |
|
|
|
|
1976 | 7/17/2013 | (g) | |||||||||||||||||||||||||||
| Church’s Chicken | Fort Worth, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 1979 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | Memphis, TN | (b) |
|
|
|
|
|
|
|
(
|
) | 1971 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | Birmingham, AL | (b) |
|
|
|
|
|
|
|
(
|
) | 1981 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | Brownsville, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 1972 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | Macon, GA | (b) |
|
|
|
|
|
|
|
(
|
) | 1980 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | Mesquite, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 2001 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | Tucson, AZ | (b) |
|
|
|
|
|
|
|
(
|
) | 1976 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | Phoenix, AZ | (b) |
|
|
|
|
|
|
|
(
|
) | 1975 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | Decatur, GA | (b) |
|
|
|
|
|
|
|
(
|
) | 1974 | 7/17/2013 |
|
||||||||||||||||||||||||||||
|
Initial Cost to Company
|
Cost Capitalized Subsequent to
Acquisition including
impairment
|
Gross Amount at
December 31, 2020
(d)
|
||||||||||||||||||||||||||||||||||||||||
|
Concept
|
City, State
|
Encumbrances
(c)
|
Land and
Improvements
|
Buildings and
Improvements
|
Land and
Improvements
|
Buildings and
Improvements
|
Land and
Improvements
|
Buildings and
Improvements
|
Total
|
Final
Accumulated
Depreciation
|
Date of
Construction
|
Date
Acquired
|
Life in which
depreciation in
latest
Statement of
Operations is
computed
|
|||||||||||||||||||||||||||||
| Church’s Chicken | Albuquerque, NM | (b) |
|
|
|
|
|
|
|
(
|
) | 1976 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | Memphis, TN | (b) |
|
|
|
|
|
|
|
(
|
) | 1971 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | Waco, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 1969 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | Bryan, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 1972 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | Grand Prairie, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 1980 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | Talladega, AL | (b) |
|
|
|
|
|
|
|
(
|
) | 1998 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | Laredo, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 1966 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | Birmingham, AL | (b) |
|
|
|
|
|
|
|
(
|
) | 1984 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | Jackson, MS | (b) |
|
|
|
|
|
|
|
(
|
) | 1998 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | La Feria, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 2003 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | Port Isabel, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 2004 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | Hidalgo, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 2001 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | Weslaco, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 1990 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | Universal City, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 1989 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | Montgomery, AL | (b) |
|
|
|
|
|
|
|
(
|
) | 1984 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | Atlanta, GA | (b) |
|
|
|
|
|
|
|
(
|
) | 1975 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | Albuquerque, NM | (b) |
|
|
|
|
|
|
|
(
|
) | 1976 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | Albuquerque, NM | (b) |
|
|
|
|
|
|
|
(
|
) | 1975 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | Memphis, TN | (b) |
|
|
|
|
|
|
|
(
|
) | 1979 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | Fort Valley, GA | (b) |
|
|
(
|
) |
|
|
|
|
(
|
) | 1985 | 7/17/2013 |
|
|||||||||||||||||||||||||||
| Church’s Chicken | Little Rock, AR | (b) |
|
|
|
|
|
|
|
(
|
) | 1970 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | Austin, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 1986 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | Albuquerque, NM | (b) |
|
|
|
|
|
|
|
(
|
) | 1980 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | Laredo, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 1968 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | Griffin, GA | (b) |
|
|
|
|
|
|
|
(
|
) | 1978 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | San Antonio, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 1986 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | Odessa, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 1979 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | Memphis, TN | (b) |
|
|
|
|
|
|
|
(
|
) | 1971 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | San Antonio, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 1984 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | Harlingen, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 1985 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | Weslaco, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 1970 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | Killeen, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 1974 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | The Village, OK | (b) |
|
|
|
|
|
|
|
(
|
) | 1978 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | Gulfport, MS | (b) |
|
|
|
|
|
|
|
(
|
) | 1971 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | Dallas, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 1985 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | Greensboro, AL | (b) |
|
|
|
|
|
|
|
(
|
) | 1986 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Church’s Chicken | Beeville, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 1972 | 7/17/2013 |
|
||||||||||||||||||||||||||||
|
Initial Cost to Company
|
Cost Capitalized Subsequent to
Acquisition including
impairment
|
Gross Amount at
December 31, 2020
(d)
|
||||||||||||||||||||||||||||||||||||||||
|
Concept
|
City, State
|
Encumbrances
(c)
|
Land and
Improvements
|
Buildings and
Improvements
|
Land and
Improvements
|
Buildings and
Improvements
|
Land and
Improvements
|
Buildings and
Improvements
|
Total
|
Final
Accumulated
Depreciation
|
Date of
Construction
|
Date
Acquired
|
Life in which
depreciation in
latest
Statement of
Operations is
computed
|
|||||||||||||||||||||||||||||
| Cinemark | Tucson, AZ | (b) |
|
|
|
|
|
|
|
(
|
) | 2016 | 2/21/2017 |
|
||||||||||||||||||||||||||||
| Circle K | Akron, OH | (b) |
|
|
|
|
|
|
|
(
|
) | 1995 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Circle K | Cuyahoga Falls, OH | (b) |
|
|
|
|
|
|
|
(
|
) | 1995 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Circle K | Cleveland, OH | (b) |
|
|
|
|
|
|
|
(
|
) | 2002 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Circle K | Akron, OH | (b) |
|
|
|
|
|
|
|
(
|
) | 1998 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Circle K | Augusta, GA | (b) |
|
|
|
|
|
|
|
(
|
) | 1981 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Circle K | Auburn, AL | (b) |
|
|
|
|
|
|
|
(
|
) | 1990 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Circle K | El Paso, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 2000 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Circle K | Fort Mill, SC | (b) |
|
|
|
|
|
|
|
(
|
) | 1999 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Circle K | Mount Pleasant, SC | (b) |
|
|
|
|
|
|
|
(
|
) | 1978 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Circle K | Goose Creek, SC | (b) |
|
|
|
|
|
|
|
(
|
) | 1983 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Circle K | Akron, OH | (b) |
|
|
|
|
|
|
|
(
|
) | 1999 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Circle K | Akron, OH | (b) |
|
|
|
|
|
|
|
(
|
) | 2001 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Circle K | Parma, OH | (b) |
|
|
|
|
|
|
|
(
|
) | 2002 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Circle K | Twinsburg, OH | (b) |
|
|
|
|
|
|
|
(
|
) | 2005 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Circle K | Savannah, GA | (b) |
|
|
|
|
|
|
|
(
|
) | 1997 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Circle K | Phenix City, AL | (b) |
|
|
|
|
|
|
|
(
|
) | 1999 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Circle K | Macon, GA | (b) |
|
|
|
|
|
|
|
(
|
) | 1974 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Circle K | Lanett, AL | (b) |
|
|
|
|
|
|
|
(
|
) | 1974 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Circle K | Monroe, LA | (b) |
|
|
|
|
|
|
|
(
|
) | 1986 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Circle K | Akron, OH | (b) |
|
|
|
|
|
|
|
(
|
) | 1995 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Circle K | Akron, OH | (b) |
|
|
|
|
|
|
|
(
|
) | 1969 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Circle K | Akron, OH | (b) |
|
|
|
|
|
|
|
(
|
) | 1994 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Circle K | Barberton, OH | (b) |
|
|
|
|
|
|
|
(
|
) | 1991 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Circle K | Charlotte, NC | (b) |
|
|
|
|
|
|
|
(
|
) | 1997 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Circle K | Savannah, GA | (b) |
|
|
|
|
|
|
|
(
|
) | 1990 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Circle K | Columbus, GA | (b) |
|
|
|
|
|
|
|
(
|
) | 1984 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Circle K | Opelika, AL | (b) |
|
|
|
|
|
|
|
(
|
) | 1988 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Circle K | Baton Rouge, LA | (b) |
|
|
|
|
|
|
|
(
|
) | 1976 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Circle K | West Monroe, LA | (b) |
|
|
|
|
|
|
|
(
|
) | 1983 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Circle K | Copley, OH | (b) |
|
|
|
|
|
|
|
(
|
) | 1993 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Circle K | Akron, OH | (b) |
|
|
|
|
|
|
|
(
|
) | 1997 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Circle K | Akron, OH | (b) |
|
|
|
|
|
|
|
(
|
) | 1994 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Circle K | Huntersville, NC | (b) |
|
|
|
|
|
|
|
(
|
) | 1996 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Circle K | Springdale, SC | (b) |
|
|
|
|
|
|
|
(
|
) | 1999 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Circle K | Charleston, SC | (b) |
|
|
|
|
|
|
|
(
|
) | 1987 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Circle K | Port Wentworth, GA | (b) |
|
|
|
|
|
|
|
(
|
) | 1991 | 7/17/2013 |
|
||||||||||||||||||||||||||||
|
Initial Cost to Company
|
Cost Capitalized Subsequent to
Acquisition including
impairment
|
Gross Amount at
December 31, 2020
(d)
|
||||||||||||||||||||||||||||||||||||||||
|
Concept
|
City, State
|
Encumbrances
(c)
|
Land and
Improvements
|
Buildings and
Improvements
|
Land and
Improvements
|
Buildings and
Improvements
|
Land and
Improvements
|
Buildings and
Improvements
|
Total
|
Final
Accumulated
Depreciation
|
Date of
Construction
|
Date
Acquired
|
Life in which
depreciation in
latest
Statement of
Operations is
computed
|
|||||||||||||||||||||||||||||
| Circle K | Columbus, GA | (b) |
|
|
|
|
|
|
|
(
|
) | 1978 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Circle K | Baton Rouge, LA | (b) |
|
|
|
|
|
|
|
(
|
) | 1970 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Circle K | Cuyahoga Falls, OH | (b) |
|
|
|
|
|
|
|
(
|
) | 1972 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Circle K | Akron, OH | (b) |
|
|
|
|
|
|
|
(
|
) | 1991 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Circle K | Akron, OH | (b) |
|
|
|
|
|
|
|
(
|
) | 1996 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Circle K | Bedford, OH | (b) |
|
|
|
|
|
|
|
(
|
) | 2000 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Circle K | El Paso, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 1999 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Circle K | Valley, AL | (b) |
|
|
|
|
|
|
|
(
|
) | 1974 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Circle K | Midland, GA | (b) |
|
|
|
|
|
|
|
(
|
) | 1995 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Circle K | Columbus, GA | (b) |
|
|
|
|
|
|
|
(
|
) | 1995 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Circle K | Baton Rouge, LA | (b) |
|
|
|
|
|
|
|
(
|
) | 1977 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Circle K | Akron, OH | (b) |
|
|
|
|
|
|
|
(
|
) | 1994 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Circle K | Barberton, OH | (b) |
|
|
|
|
|
|
|
(
|
) | 1981 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Circle K | Norton, OH | (b) |
|
|
|
|
|
|
|
(
|
) | 1984 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Circle K | Willoughby, OH | (b) |
|
|
|
|
|
|
|
(
|
) | 1986 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Circle K | Columbia, SC | (b) |
|
|
|
|
|
|
|
(
|
) | 1993 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Circle K | El Paso, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 1999 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Circle K | Martinez, GA | (b) |
|
|
|
|
|
|
|
(
|
) | 1985 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Circle K | Pine Mountain, GA | (b) |
|
|
|
|
|
|
|
(
|
) | 1999 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Circle K | Beaufort, SC | (b) |
|
|
|
|
|
|
|
(
|
) | 1997 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Circle K | West Monroe, LA | (b) |
|
|
|
|
|
|
|
(
|
) | 1999 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Circle K | Akron, OH | (b) |
|
|
|
|
|
|
|
(
|
) | 2000 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Circle K | Akron, OH | (b) |
|
|
|
|
|
|
|
(
|
) | 1950 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Circle K | Canton, OH | (b) |
|
|
|
|
|
|
|
(
|
) | 1990 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Circle K | Maple Heights, OH | (b) |
|
|
|
|
|
|
|
(
|
) | 1998 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Circle K | Brookpark, OH | (b) |
|
|
|
|
|
|
|
(
|
) | 1998 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Circle K | Charlotte, NC | (b) |
|
|
|
|
|
|
|
(
|
) | 1991 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Circle K | Mobile, AL | (b) |
|
|
|
|
|
|
|
(
|
) | 1987 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Circle K | Bluffton, SC | (b) |
|
|
|
|
|
|
|
(
|
) | 1997 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Circle K | Macon, GA | (b) |
|
|
|
|
|
|
|
(
|
) | 1993 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Circle K | Mobile, AL | (b) |
|
|
|
|
|
|
|
(
|
) | 1988 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Circle K | Shreveport, LA | (b) |
|
|
|
|
|
|
|
(
|
) | 1988 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Circle K | Seville, OH | (b) |
|
|
|
|
|
|
|
(
|
) | 2003 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Circle K | Barberton, OH | (b) |
|
|
|
|
|
|
|
(
|
) | 1983 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Circle K | Fairlawn, OH | (b) |
|
|
|
|
|
|
|
(
|
) | 1993 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Circle K | Northfield, OH | (b) |
|
|
|
|
|
|
|
(
|
) | 1983 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Circle K | Columbus, GA | (b) |
|
|
|
|
|
|
|
(
|
) | 1978 | 7/17/2013 |
|
||||||||||||||||||||||||||||
|
Initial Cost to Company
|
Cost Capitalized Subsequent to
Acquisition including
impairment
|
Gross Amount at
December 31, 2020
(d)
|
||||||||||||||||||||||||||||||||||||||||
|
Concept
|
City, State
|
Encumbrances
(c)
|
Land and
Improvements
|
Buildings and
Improvements
|
Land and
Improvements
|
Buildings and
Improvements
|
Land and
Improvements
|
Buildings and
Improvements
|
Total
|
Final
Accumulated
Depreciation
|
Date of
Construction
|
Date
Acquired
|
Life in which
depreciation in
latest
Statement of
Operations is
computed
|
|||||||||||||||||||||||||||||
| Circle K | Albuquerque, NM | (b) |
|
|
|
|
|
|
|
(
|
) | 1994 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Circle K | North Augusta, SC | (b) |
|
|
|
|
|
|
|
(
|
) | 1999 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Circle K | Bossier City, LA | (b) |
|
|
(
|
) |
|
|
|
|
(
|
) | 1987 | 7/17/2013 |
|
|||||||||||||||||||||||||||
| City Electric Supply | Albany, GA | (b) |
|
|
|
|
|
|
|
(
|
) | 1975 | 11/30/2020 |
|
||||||||||||||||||||||||||||
| City Electric Supply | Boynton Beach, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 1963 | 11/30/2020 |
|
||||||||||||||||||||||||||||
| City Electric Supply | Brunswick, GA | (b) |
|
|
|
|
|
|
|
(
|
) | 1991 | 11/30/2020 |
|
||||||||||||||||||||||||||||
| City Electric Supply | Calhoun, GA | (b) |
|
|
|
|
|
|
|
(
|
) | 1994 | 11/30/2020 |
|
||||||||||||||||||||||||||||
| City Electric Supply | Alcoa, TN | (b) |
|
|
|
|
|
|
|
(
|
) | 1955 | 11/30/2020 |
|
||||||||||||||||||||||||||||
| City Electric Supply | Conway, SC | (b) |
|
|
|
|
|
|
|
(
|
) | 2008 | 11/30/2020 |
|
||||||||||||||||||||||||||||
| City Electric Supply | Fernandina Beach, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 1976 | 11/30/2020 |
|
||||||||||||||||||||||||||||
| City Electric Supply | Franklin, NC | (b) |
|
|
|
|
|
|
|
(
|
) | 2001 | 11/30/2020 |
|
||||||||||||||||||||||||||||
| City Electric Supply | Kenwood Estates, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 1995 | 11/30/2020 |
|
||||||||||||||||||||||||||||
| City Electric Supply | Doral, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 1983 | 11/30/2020 |
|
||||||||||||||||||||||||||||
| City Electric Supply | Marble Falls, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 2007 | 11/30/2020 |
|
||||||||||||||||||||||||||||
| City Electric Supply | Chattanooga, TN | (b) |
|
|
|
|
|
|
|
(
|
) | 1957 | 11/30/2020 |
|
||||||||||||||||||||||||||||
| City Electric Supply | Greenville, SC | (b) |
|
|
|
|
|
|
|
(
|
) | 1955 | 11/30/2020 |
|
||||||||||||||||||||||||||||
| City Electric Supply | Griffin, GA | (b) |
|
|
|
|
|
|
|
(
|
) | 2004 | 11/30/2020 |
|
||||||||||||||||||||||||||||
| City Electric Supply | Jacksonville Beach, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 1999 | 11/30/2020 |
|
||||||||||||||||||||||||||||
| City Electric Supply | Jacksonville, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 1995 | 11/30/2020 |
|
||||||||||||||||||||||||||||
| City Electric Supply | Lake City, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 1986 | 11/30/2020 |
|
||||||||||||||||||||||||||||
| City Electric Supply | Greeley, CO | (b) |
|
|
|
|
|
|
|
(
|
) | 1999 | 11/30/2020 |
|
||||||||||||||||||||||||||||
| City Electric Supply | Lancaster, SC | (b) |
|
|
|
|
|
|
|
(
|
) | 1978 | 11/30/2020 |
|
||||||||||||||||||||||||||||
| City Electric Supply | Lawrenceville, GA | (b) |
|
|
|
|
|
|
|
(
|
) | 2001 | 11/30/2020 |
|
||||||||||||||||||||||||||||
| City Electric Supply | Lexington, SC | (b) |
|
|
|
|
|
|
|
(
|
) | 1992 | 11/30/2020 |
|
||||||||||||||||||||||||||||
| City Electric Supply | Cumberland, MD | (b) |
|
|
|
|
|
|
|
(
|
) | 1935 | 11/30/2020 |
|
||||||||||||||||||||||||||||
| City Electric Supply | Brandon, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 1985 | 11/30/2020 |
|
||||||||||||||||||||||||||||
| City Electric Supply | Mesa, AZ | (b) |
|
|
|
|
|
|
|
(
|
) | 2005 | 11/30/2020 |
|
||||||||||||||||||||||||||||
| City Electric Supply | Kannapolis, NC | (b) |
|
|
|
|
|
|
|
(
|
) | 1942 | 11/30/2020 |
|
||||||||||||||||||||||||||||
| City Electric Supply | Clearwater, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 1987 | 11/30/2020 |
|
||||||||||||||||||||||||||||
| City Electric Supply | Clermont, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 1997 | 11/30/2020 |
|
||||||||||||||||||||||||||||
| City Electric Supply | Milton, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 2014 | 11/30/2020 |
|
||||||||||||||||||||||||||||
| City Electric Supply | Lincolnton, NC | (b) |
|
|
|
|
|
|
|
(
|
) | 2001 | 11/30/2020 |
|
||||||||||||||||||||||||||||
| City Electric Supply | West Deland, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 1988 | 11/30/2020 |
|
||||||||||||||||||||||||||||
| City Electric Supply | Derry, NH | (b) |
|
|
|
|
|
|
|
(
|
) | 2007 | 11/30/2020 |
|
||||||||||||||||||||||||||||
| City Electric Supply | Phoenix, AZ | (b) |
|
|
|
|
|
|
|
(
|
) | 2004 | 11/30/2020 |
|
||||||||||||||||||||||||||||
| City Electric Supply | Moultrie, GA | (b) |
|
|
|
|
|
|
|
(
|
) | 1997 | 11/30/2020 |
|
||||||||||||||||||||||||||||
| City Electric Supply | Myrtle Beach, SC | (b) |
|
|
|
|
|
|
|
(
|
) | 1977 | 11/30/2020 |
|
||||||||||||||||||||||||||||
|
Initial Cost to Company
|
Cost Capitalized Subsequent to
Acquisition including
impairment
|
Gross Amount at
December 31, 2020
(d)
|
||||||||||||||||||||||||||||||||||||||||
|
Concept
|
City, State
|
Encumbrances
(c)
|
Land and
Improvements
|
Buildings and
Improvements
|
Land and
Improvements
|
Buildings and
Improvements
|
Land and
Improvements
|
Buildings and
Improvements
|
Total
|
Final
Accumulated
Depreciation
|
Date of
Construction
|
Date
Acquired
|
Life in which
depreciation in
latest
Statement of
Operations is
computed
|
|||||||||||||||||||||||||||||
| City Electric Supply | Palatka, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 1995 | 11/30/2020 |
|
||||||||||||||||||||||||||||
| City Electric Supply | Lynwood, IL | (b) |
|
|
|
|
|
|
|
(
|
) | 2000 | 11/30/2020 |
|
||||||||||||||||||||||||||||
| City Electric Supply | Monroe, NC | (b) |
|
|
|
|
|
|
|
(
|
) | 1996 | 11/30/2020 |
|
||||||||||||||||||||||||||||
| City Electric Supply | Okeechobee, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 1981 | 11/30/2020 |
|
||||||||||||||||||||||||||||
| City Electric Supply | Palm Bay, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 2000 | 11/30/2020 |
|
||||||||||||||||||||||||||||
| City Electric Supply | Port St Lucie, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 1997 | 11/30/2020 |
|
||||||||||||||||||||||||||||
| City Electric Supply | Salisbury, NC | (b) |
|
|
|
|
|
|
|
(
|
) | 2012 | 11/30/2020 |
|
||||||||||||||||||||||||||||
| City Electric Supply | Rock Hill, SC | (b) |
|
|
|
|
|
|
|
(
|
) | 2009 | 11/30/2020 |
|
||||||||||||||||||||||||||||
| City Electric Supply | New Bern, NC | (b) |
|
|
|
|
|
|
|
(
|
) | 1962 | 11/30/2020 |
|
||||||||||||||||||||||||||||
| City Electric Supply | Rome, GA | (b) |
|
|
|
|
|
|
|
(
|
) | 2002 | 11/30/2020 |
|
||||||||||||||||||||||||||||
| City Electric Supply | Rockledge, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 1992 | 11/30/2020 |
|
||||||||||||||||||||||||||||
| City Electric Supply | Garden City, GA | (b) |
|
|
|
|
|
|
|
(
|
) | 1986 | 11/30/2020 |
|
||||||||||||||||||||||||||||
| City Electric Supply | Spartanburg, SC | (b) |
|
|
|
|
|
|
|
(
|
) | 1986 | 11/30/2020 |
|
||||||||||||||||||||||||||||
| City Electric Supply | Port Orange, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 1990 | 11/30/2020 |
|
||||||||||||||||||||||||||||
| City Electric Supply | Summerfield, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 2005 | 11/30/2020 |
|
||||||||||||||||||||||||||||
| City Electric Supply | Stuart, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 1966 | 11/30/2020 |
|
||||||||||||||||||||||||||||
| City Electric Supply | Eastanollee, GA | (b) |
|
|
|
|
|
|
|
(
|
) | 2001 | 11/30/2020 |
|
||||||||||||||||||||||||||||
| City Electric Supply | Tampa, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 1982 | 11/30/2020 |
|
||||||||||||||||||||||||||||
| City Electric Supply | Titusville, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 1978 | 11/30/2020 |
|
||||||||||||||||||||||||||||
| City Electric Supply | Walterboro, SC | (b) |
|
|
|
|
|
|
|
(
|
) | 1957 | 11/30/2020 |
|
||||||||||||||||||||||||||||
| City Electric Supply | Warner Robins, GA | (b) |
|
|
|
|
|
|
|
(
|
) | 2003 | 11/30/2020 |
|
||||||||||||||||||||||||||||
| City Electric Supply | Waycross, GA | (b) |
|
|
|
|
|
|
|
(
|
) | 1998 | 11/30/2020 |
|
||||||||||||||||||||||||||||
| City Electric Supply | West Palm Beach, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 1962 | 11/30/2020 |
|
||||||||||||||||||||||||||||
| City Electric Supply | Winston Salem, NC | (b) |
|
|
|
|
|
|
|
(
|
) | 1961 | 11/30/2020 |
|
||||||||||||||||||||||||||||
| City Electric Supply | Valdosta, GA | (b) |
|
|
|
|
|
|
|
(
|
) | 2013 | 11/30/2020 |
|
||||||||||||||||||||||||||||
| City Electric Supply | Beaufort, SC | (b) |
|
|
|
|
|
|
|
(
|
) | 2017 | 11/30/2020 |
|
||||||||||||||||||||||||||||
| City Electric Supply | Jupiter, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 1967 | 11/30/2020 |
|
||||||||||||||||||||||||||||
| City Electric Supply | Fort Myers, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 1998 | 11/30/2020 |
|
||||||||||||||||||||||||||||
| City Electric Supply | Gainesville, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 1971 | 11/30/2020 |
|
||||||||||||||||||||||||||||
| City Electric Supply | Concord, NC | (b) |
|
|
|
|
|
|
|
(
|
) | 2006 | 11/30/2020 |
|
||||||||||||||||||||||||||||
| City Electric Supply | Denver, CO | (b) |
|
|
|
|
|
|
|
(
|
) | 1967 | 11/30/2020 |
|
||||||||||||||||||||||||||||
| City Electric Supply | Loganville, GA | (b) |
|
|
|
|
|
|
|
(
|
) | 2017 | 11/30/2020 |
|
||||||||||||||||||||||||||||
| City Electric Supply | Pascagoula, MS | (b) |
|
|
|
|
|
|
|
(
|
) | 1967 | 11/30/2020 |
|
||||||||||||||||||||||||||||
| City Electric Supply | South Sumter, SC | (b) |
|
|
|
|
|
|
|
(
|
) | 2015 | 11/30/2020 |
|
||||||||||||||||||||||||||||
| City Electric Supply | Miami, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 2008 | 11/30/2020 |
|
||||||||||||||||||||||||||||
| City Electric Supply | West Columbia, SC | (b) |
|
|
|
|
|
|
|
(
|
) | 2015 | 11/30/2020 |
|
||||||||||||||||||||||||||||
| City Electric Supply | Raleigh, NC | (b) |
|
|
|
|
|
|
|
(
|
) | 1992 | 11/30/2020 |
|
||||||||||||||||||||||||||||
|
Initial Cost to Company
|
Cost Capitalized Subsequent to
Acquisition including
impairment
|
Gross Amount at
December 31, 2020
(d)
|
||||||||||||||||||||||||||||||||||||||||
|
Concept
|
City, State
|
Encumbrances
(c)
|
Land and
Improvements
|
Buildings and
Improvements
|
Land and
Improvements
|
Buildings and
Improvements
|
Land and
Improvements
|
Buildings and
Improvements
|
Total
|
Final
Accumulated
Depreciation
|
Date of
Construction
|
Date
Acquired
|
Life in which
depreciation in
latest
Statement of
Operations is
computed
|
|||||||||||||||||||||||||||||
| City Electric Supply | Sebring, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 2003 | 11/30/2020 |
|
||||||||||||||||||||||||||||
| City Electric Supply | Altamonte Springs, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 1989 | 11/30/2020 |
|
||||||||||||||||||||||||||||
| City Electric Supply | Ocala, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 2001 | 11/30/2020 |
|
||||||||||||||||||||||||||||
| Clean Freak | Phoenix, AZ | (b) |
|
|
|
|
|
|
|
(
|
) | 1970 | 9/29/2016 |
|
||||||||||||||||||||||||||||
| Clean Freak | Phoenix, AZ | (b) |
|
|
|
|
|
|
|
(
|
) | 2009 | 9/29/2016 |
|
||||||||||||||||||||||||||||
| Clean Freak | Glendale, AZ | (b) |
|
|
|
|
|
|
|
(
|
) | 1988 | 9/29/2016 |
|
||||||||||||||||||||||||||||
| Clean Freak | Phoenix, AZ | (b) |
|
|
|
|
|
|
|
(
|
) | 1974 | 9/29/2016 |
|
||||||||||||||||||||||||||||
| Clean Freak | Chandler, AZ | (b) |
|
|
|
|
|
|
|
(
|
) | 2006 | 9/29/2016 |
|
||||||||||||||||||||||||||||
| Clean Freak | Springfield, IL | (b) |
|
|
|
|
|
|
|
(
|
) | 2016 | 1/16/2020 |
|
||||||||||||||||||||||||||||
| Clean Freak | Normal, IL | (b) |
|
|
|
|
|
|
|
(
|
) | 2016 | 1/16/2020 |
|
||||||||||||||||||||||||||||
| Clean Freak | Champaign, IL | (b) |
|
|
|
|
|
|
|
(
|
) | 2015 | 1/16/2020 |
|
||||||||||||||||||||||||||||
| Columbus Fish Market | Grandview, OH | (b) |
|
|
|
|
|
|
|
(
|
) | 1960 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Conney Safety | Madison, WI | (b) |
|
|
|
|
|
|
|
(
|
) | 1986 | 1/9/2020 |
|
||||||||||||||||||||||||||||
| Convergys | Las Cruces, NM | (b) |
|
|
|
|
|
|
|
(
|
) | 2008 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Cost-U-Less | St. Croix, VI | (b) |
|
|
|
|
|
|
|
(
|
) | 2005 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| CoxHealth | Springfield, MO | (b) |
|
|
|
|
|
|
|
(
|
) | 1990 | 9/23/2014 |
|
||||||||||||||||||||||||||||
| Crème de la Crème | Duluth, GA | (b) |
|
|
|
|
|
|
|
(
|
) | 2007 | 11/25/2019 |
|
||||||||||||||||||||||||||||
| Crème de la Crème | Romeoville, IL | (b) |
|
|
|
|
|
|
|
(
|
) | 2008 | 11/25/2019 |
|
||||||||||||||||||||||||||||
| Crème de la Crème | Mount Laurel, NJ | (b) |
|
|
|
|
|
|
|
(
|
) | 2007 | 11/25/2019 |
|
||||||||||||||||||||||||||||
| Crème de la Crème | Barrington, IL | (b) |
|
|
|
|
|
|
|
(
|
) | 2008 | 11/25/2019 |
|
||||||||||||||||||||||||||||
| Crème de la Crème | Chicago, IL | (b) |
|
|
|
|
|
|
|
(
|
) | 2009 | 11/25/2019 |
|
||||||||||||||||||||||||||||
| Crunch Fitness | Aurora, IL | (b) |
|
|
|
|
|
|
|
(
|
) | 2006 | 11/29/2016 |
|
||||||||||||||||||||||||||||
| Crunch Fitness | Lawrenceville, GA | (b) |
|
|
|
|
|
|
|
(
|
) | 2017 | 11/25/2019 |
|
||||||||||||||||||||||||||||
| Crunch Fitness | Boise, ID | (b) |
|
|
|
|
|
|
|
(
|
) | 2003 | 12/28/2016 |
|
||||||||||||||||||||||||||||
| Crunch Fitness | Meridian, ID | (b) |
|
|
|
|
|
|
|
(
|
) | 1993 | 12/28/2016 |
|
||||||||||||||||||||||||||||
| Crunch Fitness | Eagle, ID | (b) |
|
|
|
|
|
|
|
(
|
) | 1999 | 12/28/2016 |
|
||||||||||||||||||||||||||||
| Crunch Fitness | Boise, ID | (b) |
|
|
|
|
|
|
|
(
|
) | 2001 | 12/28/2016 |
|
||||||||||||||||||||||||||||
| C-Store | Charlotte, MI | (b) |
|
|
|
|
|
|
|
(
|
) | 1968 | 5/19/2016 |
|
||||||||||||||||||||||||||||
| C-Store | Jackson, MI | (b) |
|
|
|
|
|
|
|
(
|
) | 1969 | 5/19/2016 |
|
||||||||||||||||||||||||||||
| C-Store | Alma, MI | (b) |
|
|
|
|
|
|
|
(
|
) | 2006 | 5/19/2016 |
|
||||||||||||||||||||||||||||
| C-Store | Scottville, MI | (b) |
|
|
|
|
|
|
|
(
|
) | 1959 | 5/19/2016 |
|
||||||||||||||||||||||||||||
| C-Store | Allegan, MI | (b) |
|
|
|
|
|
|
|
(
|
) | 1965 | 5/19/2016 |
|
||||||||||||||||||||||||||||
| C-Store | Edmore, MI | (b) |
|
|
|
|
|
|
|
(
|
) | 1999 | 5/19/2016 |
|
||||||||||||||||||||||||||||
| C-Store | Wyoming, MI | (b) |
|
|
|
|
|
|
|
(
|
) | 1958 | 5/19/2016 |
|
||||||||||||||||||||||||||||
| C-Store | Hastings, MI | (b) |
|
|
|
|
|
|
|
(
|
) | 1964 | 5/19/2016 |
|
||||||||||||||||||||||||||||
| C-Store | Plainwell, MI | (b) |
|
|
|
|
|
|
|
(
|
) | 1998 | 5/19/2016 |
|
||||||||||||||||||||||||||||
| C-Store | Ithaca, MI | (b) |
|
|
|
|
|
|
|
(
|
) | 1994 | 5/19/2016 |
|
||||||||||||||||||||||||||||
|
Initial Cost to Company
|
Cost Capitalized Subsequent to
Acquisition including
impairment
|
Gross Amount at
December 31, 2020
(d)
|
||||||||||||||||||||||||||||||||||||||||
|
Concept
|
City, State
|
Encumbrances
(c)
|
Land and
Improvements
|
Buildings and
Improvements
|
Land and
Improvements
|
Buildings and
Improvements
|
Land and
Improvements
|
Buildings and
Improvements
|
Total
|
Final
Accumulated
Depreciation
|
Date of
Construction
|
Date
Acquired
|
Life in which
depreciation in
latest
Statement of
Operations is
computed
|
|||||||||||||||||||||||||||||
| C-Store | Midland, MI | (b) |
|
|
|
|
|
|
|
(
|
) | 1962 | 5/19/2016 |
|
||||||||||||||||||||||||||||
| C-Store | Indianapolis, IN | (b) |
|
|
|
|
|
|
|
(
|
) | 1973 | 5/19/2016 |
|
||||||||||||||||||||||||||||
| C-Store | Traverse City, MI | (b) |
|
|
|
|
|
|
|
(
|
) | 1971 | 5/19/2016 |
|
||||||||||||||||||||||||||||
| C-Store | Burton, MI | (b) |
|
|
|
|
|
|
|
(
|
) | 1969 | 5/19/2016 |
|
||||||||||||||||||||||||||||
| C-Store | Holland, MI | (b) |
|
|
|
|
|
|
|
(
|
) | 1957 | 5/19/2016 |
|
||||||||||||||||||||||||||||
| C-Store | Norton Shores, MI | (b) |
|
|
|
|
|
|
|
(
|
) | 1962 | 5/19/2016 |
|
||||||||||||||||||||||||||||
| C-Store | Rushville, IN | (b) |
|
|
|
|
|
|
|
(
|
) | 1978 | 5/19/2016 |
|
||||||||||||||||||||||||||||
| C-Store | Coldwater, MI | (b) |
|
|
|
|
|
|
|
(
|
) | 1960 | 5/19/2016 |
|
||||||||||||||||||||||||||||
| C-Store | Fremont, MI | (b) |
|
|
|
|
|
|
|
(
|
) | 1971 | 5/19/2016 |
|
||||||||||||||||||||||||||||
| C-Store | Marquette, MI | (b) |
|
|
|
|
|
|
|
(
|
) | 1968 | 5/19/2016 |
|
||||||||||||||||||||||||||||
| C-Store | St Johns, MI | (b) |
|
|
(
|
) |
(
|
) |
|
|
|
(
|
) | 2011 | 5/19/2016 |
|
||||||||||||||||||||||||||
| C-Store | Mason, MI | (b) |
|
|
|
|
|
|
|
(
|
) | 1971 | 5/19/2016 |
|
||||||||||||||||||||||||||||
| C-Store | Freeland, MI | (b) |
|
|
|
|
|
|
|
(
|
) | 1962 | 5/19/2016 |
|
||||||||||||||||||||||||||||
| C-Store | Menominee, MI | (b) |
|
|
|
|
|
|
|
(
|
) | 1966 | 5/19/2016 |
|
||||||||||||||||||||||||||||
| C-Store | Merrillville, IN | (b) |
|
|
|
|
|
|
|
(
|
) | 1973 | 5/19/2016 |
|
||||||||||||||||||||||||||||
| C-Store | Eaton Rapids, MI | (b) |
|
|
|
|
|
|
|
(
|
) | 1945 | 5/19/2016 |
|
||||||||||||||||||||||||||||
| C-Store | Muncie, IN | (b) |
|
|
|
|
|
|
|
(
|
) | 1983 | 5/19/2016 |
|
||||||||||||||||||||||||||||
| C-Store | Indianapolis, IN | (b) |
|
|
|
|
|
|
|
(
|
) | 1945 | 5/19/2016 |
|
||||||||||||||||||||||||||||
| C-Store | Jackson, MI | (b) |
|
|
|
|
|
|
|
(
|
) | 1963 | 5/19/2016 |
|
||||||||||||||||||||||||||||
| C-Store | Grayling, MI | (b) |
|
|
|
|
|
|
|
(
|
) | 1988 | 5/19/2016 |
|
||||||||||||||||||||||||||||
| C-Store | Alpena, MI | (b) |
|
|
|
|
|
|
|
(
|
) | 1999 | 5/19/2016 |
|
||||||||||||||||||||||||||||
| C-Store | Midland, MI | (b) |
|
|
|
|
|
|
|
(
|
) | 1960 | 5/19/2016 |
|
||||||||||||||||||||||||||||
| C-Store | Stevensville, MI | (b) |
|
|
|
|
|
|
|
(
|
) | 1960 | 5/19/2016 |
|
||||||||||||||||||||||||||||
| C-Store | Alpena, MI | (b) |
|
|
|
|
|
|
|
(
|
) | 1998 | 5/19/2016 |
|
||||||||||||||||||||||||||||
| C-Store | Greenville, MI | (b) |
|
|
|
|
|
|
|
(
|
) | 1968 | 5/19/2016 |
|
||||||||||||||||||||||||||||
| C-Store | Lansing, MI | (b) |
|
|
|
|
|
|
|
(
|
) | 1965 | 5/19/2016 |
|
||||||||||||||||||||||||||||
| C-Store | Swartz Creek, MI | (b) |
|
|
|
|
|
|
|
(
|
) | 1952 | 5/19/2016 |
|
||||||||||||||||||||||||||||
| C-Store | Spring Lake, MI | (b) |
|
|
|
|
|
|
|
(
|
) | 1964 | 5/19/2016 |
|
||||||||||||||||||||||||||||
| C-Store | Sault Ste Marie, MI | (b) |
|
|
|
|
|
|
|
(
|
) | 1993 | 5/19/2016 |
|
||||||||||||||||||||||||||||
| C-Store | Coopersville, MI | (b) |
|
|
|
|
|
|
|
(
|
) | 1968 | 5/19/2016 |
|
||||||||||||||||||||||||||||
| C-Store | Cedar Springs, MI | (b) |
|
|
|
|
|
|
|
(
|
) | 1965 | 5/19/2016 |
|
||||||||||||||||||||||||||||
| C-Store | Saginaw, MI | (b) |
|
|
|
|
|
|
|
(
|
) | 1989 | 5/19/2016 |
|
||||||||||||||||||||||||||||
| C-Store | Saginaw, MI | (b) |
|
|
|
|
|
|
|
(
|
) | 1969 | 5/19/2016 |
|
||||||||||||||||||||||||||||
| C-Store | Three Rivers, MI | (b) |
|
|
|
|
|
|
|
(
|
) | 1982 | 5/19/2016 |
|
||||||||||||||||||||||||||||
| C-Store | Saginaw, MI | (b) |
|
|
|
|
|
|
|
(
|
) | 1960 | 5/19/2016 |
|
||||||||||||||||||||||||||||
| C-Store | Grand Haven, MI | (b) |
|
|
|
|
|
|
|
(
|
) | 1992 | 5/19/2016 |
|
||||||||||||||||||||||||||||
| C-Store | Jackson, MI | (b) |
|
|
|
|
|
|
|
(
|
) | 1965 | 5/19/2016 |
|
||||||||||||||||||||||||||||
|
Initial Cost to Company
|
Cost Capitalized Subsequent to
Acquisition including
impairment
|
Gross Amount at
December 31, 2020
(d)
|
||||||||||||||||||||||||||||||||||||||||
|
Concept
|
City, State
|
Encumbrances
(c)
|
Land and
Improvements
|
Buildings and
Improvements
|
Land and
Improvements
|
Buildings and
Improvements
|
Land and
Improvements
|
Buildings and
Improvements
|
Total
|
Final
Accumulated
Depreciation
|
Date of
Construction
|
Date
Acquired
|
Life in which
depreciation in
latest
Statement of
Operations is
computed
|
|||||||||||||||||||||||||||||
| C-Store | Hillsdale, MI | (b) |
|
|
|
|
|
|
|
(
|
) | 1968 | 5/19/2016 |
|
||||||||||||||||||||||||||||
| C-Store | Muskegon, MI | (b) |
|
|
|
|
|
|
|
(
|
) | 1964 | 5/19/2016 |
|
||||||||||||||||||||||||||||
| C-Store | Zeeland, MI | (b) |
|
|
|
|
|
|
|
(
|
) | 1989 | 5/19/2016 |
|
||||||||||||||||||||||||||||
| C-Store | Sparta, MI | (b) |
|
|
|
|
|
|
|
(
|
) | 1993 | 5/19/2016 |
|
||||||||||||||||||||||||||||
| C-Store | Lansing, MI | (b) |
|
|
|
|
|
|
|
(
|
) | 1978 | 5/19/2016 |
|
||||||||||||||||||||||||||||
| C-Store | Muskegon, MI | (b) |
|
|
|
|
|
|
|
(
|
) | 1959 | 5/19/2016 |
|
||||||||||||||||||||||||||||
| C-Store | Cadillac, MI | (b) |
|
|
|
|
|
|
|
(
|
) | 1971 | 5/19/2016 |
|
||||||||||||||||||||||||||||
| C-Store | Cynthiana, KY | (b) |
|
|
|
|
|
|
|
(
|
) | 1985 | 6/30/2015 |
|
||||||||||||||||||||||||||||
| C-Store | Carlisle, KY | (b) |
|
|
|
|
|
|
|
(
|
) | 1989 | 6/30/2015 |
|
||||||||||||||||||||||||||||
| C-Store | Georgetown, KY | (b) |
|
|
|
|
|
|
|
(
|
) | 1998 | 6/30/2015 |
|
||||||||||||||||||||||||||||
| C-Store | Clay City, KY | (b) |
|
|
|
|
|
|
|
(
|
) | 2002 | 6/30/2015 |
|
||||||||||||||||||||||||||||
| C-Store | Winchester, KY | (b) |
|
|
|
|
|
|
|
(
|
) | 1981 | 6/30/2015 |
|
||||||||||||||||||||||||||||
| C-Store | Paris, KY | (b) |
|
|
|
|
|
|
|
(
|
) | 1992 | 6/30/2015 |
|
||||||||||||||||||||||||||||
| C-Store | Georgetown, KY | (b) |
|
|
|
|
|
|
|
(
|
) | 1989 | 6/30/2015 |
|
||||||||||||||||||||||||||||
| C-Store | Mount Sterling, KY | (b) |
|
|
|
|
|
|
|
(
|
) | 2000 | 6/30/2015 |
|
||||||||||||||||||||||||||||
| C-Store | Irvine, KY | (b) |
|
|
|
|
|
|
|
(
|
) | 1987 | 6/30/2015 |
|
||||||||||||||||||||||||||||
| C-Store | McKee, KY | (b) |
|
|
|
|
|
|
|
(
|
) | 1983 | 6/30/2015 |
|
||||||||||||||||||||||||||||
| C-Store | Hazard, KY | (b) |
|
|
|
|
|
|
|
(
|
) | 1991 | 6/30/2015 |
|
||||||||||||||||||||||||||||
| C-Store | Campton, KY | (b) |
|
|
|
|
|
|
|
(
|
) | 1996 | 6/30/2015 |
|
||||||||||||||||||||||||||||
| C-Store | Flemingsburg, KY | (b) |
|
|
|
|
|
|
|
(
|
) | 1997 | 6/30/2015 |
|
||||||||||||||||||||||||||||
| C-Store | Jackson, KY | (b) |
|
|
|
|
|
|
|
(
|
) | 1982 | 6/30/2015 |
|
||||||||||||||||||||||||||||
| C-Store | Paris, KY | (b) |
|
|
|
|
|
|
|
(
|
) | 1988 | 6/30/2015 |
|
||||||||||||||||||||||||||||
| C-Store | Carlisle, KY | (b) |
|
|
|
|
|
|
|
(
|
) | 2005 | 6/30/2015 |
|
||||||||||||||||||||||||||||
| C-Store | Beattyville, KY | (b) |
|
|
|
|
|
|
|
(
|
) | 1981 | 6/30/2015 |
|
||||||||||||||||||||||||||||
| C-Store | Harrodsburg, KY | (b) |
|
|
|
|
|
|
|
(
|
) | 1973 | 6/30/2015 |
|
||||||||||||||||||||||||||||
| C-Store | Moneta, VA | (b) |
|
|
|
|
|
|
|
(
|
) | 1999 | 6/30/2015 |
|
||||||||||||||||||||||||||||
| C-Store | South Boston, VA | (b) |
|
|
|
|
|
|
|
(
|
) | 1983 | 6/30/2015 |
|
||||||||||||||||||||||||||||
| C-Store | Rustburg, VA | (b) |
|
|
|
|
|
|
|
(
|
) | 1990 | 6/30/2015 |
|
||||||||||||||||||||||||||||
| C-Store | Roanoke, VA | (b) |
|
|
|
|
|
|
|
(
|
) | 1988 | 6/30/2015 |
|
||||||||||||||||||||||||||||
| C-Store | South Boston, VA | (b) |
|
|
|
|
|
|
|
(
|
) | 1997 | 6/30/2015 |
|
||||||||||||||||||||||||||||
| C-Store | Lynchburg, VA | (b) |
|
|
|
|
|
|
|
(
|
) | 2006 | 6/30/2015 |
|
||||||||||||||||||||||||||||
| C-Store | Gretna, VA | (b) |
|
|
|
|
|
|
|
(
|
) | 1978 | 6/30/2015 |
|
||||||||||||||||||||||||||||
| C-Store | Gretna, VA | (b) |
|
|
|
|
|
|
|
(
|
) | 1996 | 6/30/2015 |
|
||||||||||||||||||||||||||||
| C-Store | South Boston, VA | (b) |
|
|
|
|
|
|
|
(
|
) | 1997 | 6/30/2015 |
|
||||||||||||||||||||||||||||
| C-Store | Roanoke, VA | (b) |
|
|
|
|
|
|
|
(
|
) | 1988 | 6/30/2015 |
|
||||||||||||||||||||||||||||
| C-Store | Madison Heights, VA | (b) |
|
|
|
|
|
|
|
(
|
) | 1983 | 6/30/2015 |
|
||||||||||||||||||||||||||||
| C-Store | Lynchburg, VA | (b) |
|
|
|
|
|
|
|
(
|
) | 2000 | 6/30/2015 |
|
||||||||||||||||||||||||||||
|
Initial Cost to Company
|
Cost Capitalized Subsequent to
Acquisition including
impairment
|
Gross Amount at
December 31, 2020
(d)
|
||||||||||||||||||||||||||||||||||||||||
|
Concept
|
City, State
|
Encumbrances
(c)
|
Land and
Improvements
|
Buildings and
Improvements
|
Land and
Improvements
|
Buildings and
Improvements
|
Land and
Improvements
|
Buildings and
Improvements
|
Total
|
Final
Accumulated
Depreciation
|
Date of
Construction
|
Date
Acquired
|
Life in which
depreciation in
latest
Statement of
Operations is
computed
|
|||||||||||||||||||||||||||||
| C-Store | South Boston, VA | (b) |
|
|
|
|
|
|
|
(
|
) | 1988 | 6/30/2015 |
|
||||||||||||||||||||||||||||
| C-Store | Blairs, VA | (b) |
|
|
|
|
|
|
|
(
|
) | 1987 | 6/30/2015 |
|
||||||||||||||||||||||||||||
| C-Store | Daleville, VA | (b) |
|
|
|
|
|
|
|
(
|
) | 1989 | 6/30/2015 |
|
||||||||||||||||||||||||||||
| C-Store | Hurt, VA | (b) |
|
|
|
|
|
|
|
(
|
) | 1973 | 6/30/2015 |
|
||||||||||||||||||||||||||||
| C-Store | Bedford, VA | (b) |
|
|
|
|
|
|
|
(
|
) | 1997 | 6/30/2015 |
|
||||||||||||||||||||||||||||
| C-Store | Salem, VA | (b) |
|
|
|
|
|
|
|
(
|
) | 1970 | 6/30/2015 |
|
||||||||||||||||||||||||||||
| C-Store | Roanoke, VA | (b) |
|
|
|
|
|
|
|
(
|
) | 1997 | 6/30/2015 |
|
||||||||||||||||||||||||||||
| C-Store | Forest, VA | (b) |
|
|
|
|
|
|
|
(
|
) | 1995 | 6/30/2015 |
|
||||||||||||||||||||||||||||
| C-Store | Danville, VA | (b) |
|
|
|
|
|
|
|
(
|
) | 1989 | 6/30/2015 |
|
||||||||||||||||||||||||||||
| C-Store | Altavista, VA | (b) |
|
|
|
|
|
|
|
(
|
) | 1981 | 6/30/2015 |
|
||||||||||||||||||||||||||||
| C-Store | Roanoke, VA | (b) |
|
|
|
|
|
|
|
(
|
) | 1986 | 6/30/2015 |
|
||||||||||||||||||||||||||||
| C-Store | Salem, VA | (b) |
|
|
|
|
|
|
|
(
|
) | 1973 | 6/30/2015 |
|
||||||||||||||||||||||||||||
| C-Store | Salem, VA | (b) |
|
|
|
|
|
|
|
(
|
) | 1987 | 6/30/2015 |
|
||||||||||||||||||||||||||||
| C-Store | Altavista, VA | (b) |
|
|
|
|
|
|
|
(
|
) | 1984 | 6/30/2015 |
|
||||||||||||||||||||||||||||
| C-Store | Jacksonville, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 2010 | 10/28/2015 |
|
||||||||||||||||||||||||||||
| C-Store | Apopka, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 1997 | 10/28/2015 |
|
||||||||||||||||||||||||||||
| C-Store | Belle Isle, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 1996 | 10/27/2015 |
|
||||||||||||||||||||||||||||
| C-Store | Orlando, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 1990 | 10/29/2015 |
|
||||||||||||||||||||||||||||
| C-Store | Okeechobee, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 1976 | 10/30/2014 |
|
||||||||||||||||||||||||||||
| C-Store | Fort Pierce, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 1989 | 10/30/2014 |
|
||||||||||||||||||||||||||||
| C-Store | Okeechobee, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 1984 | 10/30/2014 |
|
||||||||||||||||||||||||||||
| C-Store | Fort Pierce, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 1977 | 10/30/2014 |
|
||||||||||||||||||||||||||||
| C-Store | Okeechobee, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 1975 | 10/30/2014 |
|
||||||||||||||||||||||||||||
| C-Store | Okeechobee, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 1986 | 10/30/2014 |
|
||||||||||||||||||||||||||||
| C-Store | Belle Glade, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 1960 | 10/30/2014 |
|
||||||||||||||||||||||||||||
| C-Store | Yarmouth, ME | (b) |
|
|
|
|
|
|
|
(
|
) | 1990 | 1/24/2014 |
|
||||||||||||||||||||||||||||
| C-Store | Waldoboro, ME | (b) |
|
|
|
|
|
|
|
(
|
) | 1996 | 1/24/2014 |
|
||||||||||||||||||||||||||||
| C-Store | Wiscasset, ME | (b) |
|
|
|
|
|
|
|
(
|
) | 1992 | 1/24/2014 |
|
||||||||||||||||||||||||||||
| C-Store | South Portland, ME | (b) |
|
|
|
|
|
|
|
(
|
) | 1970 | 1/24/2014 |
|
||||||||||||||||||||||||||||
| C-Store | Hampden, ME | (b) |
|
|
|
|
|
|
|
(
|
) | 1997 | 1/24/2014 |
|
||||||||||||||||||||||||||||
| C-Store | Presque Isle, ME | (b) |
|
|
|
|
|
|
|
(
|
) | 1995 | 1/24/2014 |
|
||||||||||||||||||||||||||||
| C-Store | Bucksport, ME | (b) |
|
|
|
|
|
|
|
(
|
) | 1995 | 1/24/2014 |
|
||||||||||||||||||||||||||||
| C-Store | Belmont, NH | (b) |
|
|
|
|
|
|
|
(
|
) | 1969 | 1/24/2014 |
|
||||||||||||||||||||||||||||
| C-Store | Laconia, NH | (b) |
|
|
|
|
|
|
|
(
|
) | 1998 | 1/24/2014 |
|
||||||||||||||||||||||||||||
| C-Store | Raymond, NH | (b) |
|
|
|
|
|
|
|
(
|
) | 1986 | 1/24/2014 |
|
||||||||||||||||||||||||||||
| C-Store | Grandtham, NH | (b) |
|
|
|
|
|
|
|
(
|
) | 1989 | 1/24/2014 |
|
||||||||||||||||||||||||||||
| C-Store | Belmont, NH | (b) |
|
|
|
|
|
|
|
(
|
) | 2002 | 1/24/2014 |
|
||||||||||||||||||||||||||||
|
Initial Cost to Company
|
Cost Capitalized Subsequent to
Acquisition including
impairment
|
Gross Amount at
December 31, 2020
(d)
|
||||||||||||||||||||||||||||||||||||||||
|
Concept
|
City, State
|
Encumbrances
(c)
|
Land and
Improvements
|
Buildings and
Improvements
|
Land and
Improvements
|
Buildings and
Improvements
|
Land and
Improvements
|
Buildings and
Improvements
|
Total
|
Final
Accumulated
Depreciation
|
Date of
Construction
|
Date
Acquired
|
Life in which
depreciation in
latest
Statement of
Operations is
computed
|
|||||||||||||||||||||||||||||
| C-Store | Keene, NH | (b) |
|
|
|
|
|
|
|
(
|
) | 1960 | 1/24/2014 |
|
||||||||||||||||||||||||||||
| C-Store | Barton, VT | (b) |
|
|
|
|
|
|
|
(
|
) | 1975 | 1/24/2014 |
|
||||||||||||||||||||||||||||
| C-Store | Sherman Mills, ME | (b) |
|
|
|
|
|
|
|
(
|
) | 1974 | 6/28/2012 |
|
||||||||||||||||||||||||||||
| C-Store | Bangor, ME | (b) |
|
|
|
|
|
|
|
(
|
) | 1973 | 6/28/2012 |
|
||||||||||||||||||||||||||||
| C-Store | Calais, ME | (b) |
|
|
|
|
|
|
|
(
|
) | 1968 | 6/28/2012 |
|
||||||||||||||||||||||||||||
| C-Store | Brewer, ME | (b) |
|
|
|
|
|
|
|
(
|
) | 1967 | 6/28/2012 |
|
||||||||||||||||||||||||||||
| C-Store | Harrington, ME | (b) |
|
|
|
|
|
|
|
(
|
) | 1992 | 6/28/2012 |
|
||||||||||||||||||||||||||||
| C-Store | Lewiston, ME | (b) |
|
|
|
|
|
|
|
(
|
) | 1994 | 6/28/2012 |
|
||||||||||||||||||||||||||||
| C-Store | Rockland, ME | (b) |
|
|
|
|
|
|
|
(
|
) | 1984 | 6/28/2012 |
|
||||||||||||||||||||||||||||
| C-Store | Oakfield, ME | (b) |
|
|
|
|
|
|
|
(
|
) | 1993 | 6/28/2012 |
|
||||||||||||||||||||||||||||
| C-Store | Ashland, NH | (b) |
|
|
|
|
|
|
|
(
|
) | 1970 | 6/28/2012 |
|
||||||||||||||||||||||||||||
| C-Store | Berlin, NH | (b) |
|
|
|
|
|
|
|
(
|
) | 1991 | 6/28/2012 |
|
||||||||||||||||||||||||||||
| C-Store | Paris, ME | (b) |
|
|
|
|
|
|
|
(
|
) | 1954 | 6/28/2012 |
|
||||||||||||||||||||||||||||
| C-Store | Madison, ME | (b) |
|
|
|
|
|
|
|
(
|
) | 1988 | 6/28/2012 |
|
||||||||||||||||||||||||||||
| C-Store | Bartlett, NH | (b) |
|
|
|
|
|
|
|
(
|
) | 1998 | 6/28/2012 |
|
||||||||||||||||||||||||||||
| C-Store | Auburn, ME | (b) |
|
|
|
|
|
|
|
(
|
) | 1996 | 6/28/2012 |
|
||||||||||||||||||||||||||||
| C-Store | Auburn, ME | (b) |
|
|
|
|
|
|
|
(
|
) | 1968 | 6/28/2012 |
|
||||||||||||||||||||||||||||
| C-Store | South Portland, ME | (b) |
|
|
|
|
|
|
|
(
|
) | 1970 | 6/28/2012 |
|
||||||||||||||||||||||||||||
| C-Store | Freeport, ME | (b) |
|
|
|
|
|
|
|
(
|
) | 1991 | 6/28/2012 |
|
||||||||||||||||||||||||||||
| C-Store | Sanford, ME | (b) |
|
|
|
|
|
|
|
(
|
) | 1997 | 6/28/2012 |
|
||||||||||||||||||||||||||||
| C-Store | Gorham, NH | (b) |
|
|
|
|
|
|
|
(
|
) | 1975 | 6/28/2012 |
|
||||||||||||||||||||||||||||
| C-Store | Manchester, ME | (b) |
|
|
|
|
|
|
|
(
|
) | 1990 | 6/28/2012 |
|
||||||||||||||||||||||||||||
| C-Store | Augusta, ME | (b) |
|
|
|
|
|
|
|
(
|
) | 1997 | 6/28/2012 |
|
||||||||||||||||||||||||||||
| C-Store | Concord, NH | (b) |
|
|
|
|
|
|
|
(
|
) | 1988 | 6/28/2012 |
|
||||||||||||||||||||||||||||
| C-Store | Newport, NH | (b) |
|
|
|
|
|
|
|
(
|
) | 1998 | 6/28/2012 |
|
||||||||||||||||||||||||||||
| C-Store | Youngstown, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 1999 | 4/26/2017 |
|
||||||||||||||||||||||||||||
| C-Store | Roebuck, SC | (b) |
|
|
|
|
|
|
|
(
|
) | 1992 | 1/1/2014 |
|
||||||||||||||||||||||||||||
| C-Store | Honea Path, SC | (b) |
|
|
(
|
) |
|
|
|
|
(
|
) | 1996 | 1/1/2014 |
|
|||||||||||||||||||||||||||
| C-Store | Laurens, SC | (b) |
|
|
|
|
|
|
|
(
|
) | 1992 | 1/1/2014 |
|
||||||||||||||||||||||||||||
| C-Store | Asheville, NC | (b) |
|
|
|
|
|
|
|
(
|
) | 2000 | 1/1/2014 |
|
||||||||||||||||||||||||||||
| C-Store | Inman, SC | (b) |
|
|
|
|
|
|
|
(
|
) | 1994 | 5/8/2013 |
|
||||||||||||||||||||||||||||
| C-Store | Summerville, SC | (b) |
|
|
(
|
) |
|
|
|
|
(
|
) | 2001 | 5/8/2013 |
|
|||||||||||||||||||||||||||
| C-Store | Murphy, NC | (b) |
|
|
|
|
|
|
|
(
|
) | 1965 | 5/8/2013 |
|
||||||||||||||||||||||||||||
| C-Store | Asheville, NC | (b) |
|
|
|
|
|
|
|
(
|
) | 1986 | 1/1/2014 |
|
||||||||||||||||||||||||||||
| C-Store | Harriman, TN | (b) |
|
|
|
|
|
|
|
|
(e) | 6/28/2019 | (e) | |||||||||||||||||||||||||||||
| C-Store | Maynardville, TN | (b) |
|
|
|
|
|
|
|
|
(e) | 6/28/2019 | (e) | |||||||||||||||||||||||||||||
| C-Store | Athens, TN | (b) |
|
|
|
|
|
|
|
|
(e) | 6/28/2019 | (e) | |||||||||||||||||||||||||||||
|
Initial Cost to Company
|
Cost Capitalized Subsequent to
Acquisition including
impairment
|
Gross Amount at
December 31, 2020
(d)
|
||||||||||||||||||||||||||||||||||||||||
|
Concept
|
City, State
|
Encumbrances
(c)
|
Land and
Improvements
|
Buildings and
Improvements
|
Land and
Improvements
|
Buildings and
Improvements
|
Land and
Improvements
|
Buildings and
Improvements
|
Total
|
Final
Accumulated
Depreciation
|
Date of
Construction
|
Date
Acquired
|
Life in which
depreciation in
latest
Statement of
Operations is
computed
|
|||||||||||||||||||||||||||||
| C-Store | Vonore, TN | (b) |
|
|
|
|
|
|
|
|
(e) | 6/28/2019 | (e) | |||||||||||||||||||||||||||||
| C-Store | Loudon, TN | (b) |
|
|
|
|
|
|
|
|
(e) | 6/28/2019 | (e) | |||||||||||||||||||||||||||||
| C-Store | Wartburg, TN | (b) |
|
|
|
|
|
|
|
|
(e) | 6/28/2019 | (e) | |||||||||||||||||||||||||||||
| C-Store | Kingston, TN | (b) |
|
|
|
|
|
|
|
|
(e) | 6/28/2019 | (e) | |||||||||||||||||||||||||||||
| C-Store | Harriman, TN | (b) |
|
|
|
|
|
|
|
|
(e) | 6/28/2019 | (e) | |||||||||||||||||||||||||||||
| C-Store | Dandridge, TN | (b) |
|
|
|
|
|
|
|
|
(e) | 6/28/2019 | (e) | |||||||||||||||||||||||||||||
| C-Store | Rockwood, TN | (b) |
|
|
|
|
|
|
|
|
(e) | 6/28/2019 | (e) | |||||||||||||||||||||||||||||
| C-Store | Jellico, TN | (b) |
|
|
|
|
|
|
|
|
(e) | 6/28/2019 | (e) | |||||||||||||||||||||||||||||
| C-Store | Cleveland, TN | (b) |
|
|
|
|
|
|
|
|
(e) | 6/28/2019 | (e) | |||||||||||||||||||||||||||||
| C-Store | Spring City, TN | (b) |
|
|
|
|
|
|
|
|
(e) | 6/28/2019 | (e) | |||||||||||||||||||||||||||||
| C-Store | Cleveland, TN | (b) |
|
|
|
|
|
|
|
|
(e) | 6/28/2019 | (e) | |||||||||||||||||||||||||||||
| C-Store | Powell, TN | (b) |
|
|
|
|
|
|
|
|
(e) | 6/28/2019 | (e) | |||||||||||||||||||||||||||||
| C-Store | Oak Ridge, TN | (b) |
|
|
|
|
|
|
|
|
(e) | 6/28/2019 | (e) | |||||||||||||||||||||||||||||
| C-Store | Jellico, TN | (b) |
|
|
|
|
|
|
|
|
(e) | 6/28/2019 | (e) | |||||||||||||||||||||||||||||
| C-Store | Clinton, TN | (b) |
|
|
|
|
|
|
|
|
(e) | 6/28/2019 | (e) | |||||||||||||||||||||||||||||
| C-Store | Clinton, TN | (b) |
|
|
|
|
|
|
|
|
(e) | 6/28/2019 | (e) | |||||||||||||||||||||||||||||
| C-Store | Harriman, TN | (b) |
|
|
|
|
|
|
|
|
(e) | 6/28/2019 | (e) | |||||||||||||||||||||||||||||
| C-Store | Athens, TN | (b) |
|
|
|
|
|
|
|
|
(e) | 6/28/2019 | (e) | |||||||||||||||||||||||||||||
| C-Store | Harriman, TN | (b) |
|
|
|
|
|
|
|
|
(e) | 6/28/2019 | (e) | |||||||||||||||||||||||||||||
| C-Store | Knoxville, TN | (b) |
|
|
|
|
|
|
|
|
(e) | 6/28/2019 | (e) | |||||||||||||||||||||||||||||
| C-Store | Lenoir City, TN | (b) |
|
|
|
|
|
|
|
|
(e) | 6/28/2019 | (e) | |||||||||||||||||||||||||||||
| C-Store | Oak Ridge, TN | (b) |
|
|
|
|
|
|
|
|
(e) | 6/28/2019 | (e) | |||||||||||||||||||||||||||||
| C-Store | Kingston, TN | (b) |
|
|
|
|
|
|
|
|
(e) | 6/28/2019 | (e) | |||||||||||||||||||||||||||||
| C-Store | Rockwood, TN | (b) |
|
|
|
|
|
|
|
|
(e) | 6/28/2019 | (e) | |||||||||||||||||||||||||||||
| C-Store | Knoxville, TN | (b) |
|
|
|
|
|
|
|
|
(e) | 6/28/2019 | (e) | |||||||||||||||||||||||||||||
| C-Store | Cleveland, TN | (b) |
|
|
|
|
|
|
|
|
(e) | 6/28/2019 | (e) | |||||||||||||||||||||||||||||
| C-Store | Kingston, TN | (b) |
|
|
|
|
|
|
|
|
(e) | 6/28/2019 | (e) | |||||||||||||||||||||||||||||
| C-Store | Sumiton, AL | (b) |
|
|
|
|
|
|
|
(
|
) | 1970 | 7/11/2016 |
|
||||||||||||||||||||||||||||
| C-Store | Sylacauga, AL | (b) |
|
|
|
|
|
|
|
(
|
) | 1948 | 7/11/2016 |
|
||||||||||||||||||||||||||||
| C-Store | Anniston, AL | (b) |
|
|
|
|
|
|
|
(
|
) | 1960 | 7/11/2016 |
|
||||||||||||||||||||||||||||
| C-Store | Ragland, AL | (b) |
|
|
|
|
|
|
|
(
|
) | 1986 | 7/11/2016 |
|
||||||||||||||||||||||||||||
| C-Store | Lagrange, GA | (b) |
|
|
|
|
|
|
|
(
|
) | 1972 | 7/11/2016 |
|
||||||||||||||||||||||||||||
| C-Store | Auburn, AL | (b) |
|
|
|
|
|
|
|
(
|
) | 2001 | 7/11/2016 |
|
||||||||||||||||||||||||||||
| C-Store | Greenville, AL | (b) |
|
|
|
|
|
|
|
(
|
) | 1991 | 7/11/2016 |
|
||||||||||||||||||||||||||||
| C-Store | Lanett, AL | (b) |
|
|
|
|
|
|
|
(
|
) | 1975 | 7/11/2016 |
|
||||||||||||||||||||||||||||
| C-Store | Lincoln, AL | (b) |
|
|
|
|
|
|
|
(
|
) | 2001 | 7/11/2016 |
|
||||||||||||||||||||||||||||
| C-Store | Montgomery, AL | (b) |
|
|
|
|
|
|
|
(
|
) | 1965 | 7/11/2016 |
|
||||||||||||||||||||||||||||
|
Initial Cost to Company
|
Cost Capitalized Subsequent to
Acquisition including
impairment
|
Gross Amount at
December 31, 2020
(d)
|
||||||||||||||||||||||||||||||||||||||||
|
Concept
|
City, State
|
Encumbrances
(c)
|
Land and
Improvements
|
Buildings and
Improvements
|
Land and
Improvements
|
Buildings and
Improvements
|
Land and
Improvements
|
Buildings and
Improvements
|
Total
|
Final
Accumulated
Depreciation
|
Date of
Construction
|
Date
Acquired
|
Life in which
depreciation in
latest
Statement of
Operations is
computed
|
|||||||||||||||||||||||||||||
| C-Store | Prattville, AL | (b) |
|
|
|
|
|
|
|
(
|
) | 1995 | 7/11/2016 |
|
||||||||||||||||||||||||||||
| C-Store | Panama City, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 1951 | 7/11/2016 |
|
||||||||||||||||||||||||||||
| C-Store | Valley, AL | (b) |
|
|
|
|
|
|
|
(
|
) | 1955 | 7/11/2016 |
|
||||||||||||||||||||||||||||
| C-Store | Lebo, KS | (b) |
|
|
|
|
|
|
|
(
|
) | 1976 | 11/18/2014 |
|
||||||||||||||||||||||||||||
| C-Store | Kearney, MO | (b) |
|
|
|
|
|
|
|
(
|
) | 2001 | 11/18/2014 |
|
||||||||||||||||||||||||||||
| C-Store | Cleveland, MO | (b) |
|
|
|
|
|
|
|
(
|
) | 1994 | 11/18/2014 |
|
||||||||||||||||||||||||||||
| C-Store | Kansas City, MO | (b) |
|
|
|
|
|
|
|
(
|
) | 1996 | 11/18/2014 |
|
||||||||||||||||||||||||||||
| C-Store | Scottsdale, AZ | (b) |
|
|
|
|
|
|
|
(
|
) | 2000 | 7/2/2007 |
|
||||||||||||||||||||||||||||
| C-Store | Scottsdale, AZ | (b) |
|
|
|
|
|
|
|
(
|
) | 1991 | 7/2/2007 |
|
||||||||||||||||||||||||||||
| C-Store | Cave Creek, AZ | (b) |
|
|
|
|
|
|
|
(
|
) | 1998 | 7/2/2007 |
|
||||||||||||||||||||||||||||
| C-Store | Scottsdale, AZ | (b) |
|
|
|
|
|
|
|
(
|
) | 1996 | 7/2/2007 |
|
||||||||||||||||||||||||||||
| C-Store | Phoenix, AZ | (b) |
|
|
|
|
|
|
|
(
|
) | 2001 | 7/2/2007 |
|
||||||||||||||||||||||||||||
| C-Store | Scottsdale, AZ | (b) |
|
|
|
|
|
|
|
(
|
) | 1995 | 7/2/2007 |
|
||||||||||||||||||||||||||||
| C-Store | Oakland, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 2002 | 12/19/2013 |
|
||||||||||||||||||||||||||||
| C-Store | Huntsville, AR | (b) |
|
|
|
|
|
|
|
(
|
) | 2003 | 9/30/2016 |
|
||||||||||||||||||||||||||||
| C-Store | Butler, MO | (b) |
|
|
|
|
|
|
|
(
|
) | 1996 | 9/30/2016 |
|
||||||||||||||||||||||||||||
| C-Store | Orlando, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 2000 | 12/19/2013 |
|
||||||||||||||||||||||||||||
| C-Store | Joplin, MO | (b) |
|
|
|
|
|
|
|
(
|
) | 2008 | 5/5/2017 |
|
||||||||||||||||||||||||||||
| C-Store | Clinton, MO | (b) |
|
|
|
|
|
|
|
(
|
) | 1960 | 9/30/2016 |
|
||||||||||||||||||||||||||||
| C-Store | Kimberling City, MO | (b) |
|
|
|
|
|
|
|
(
|
) | 1950 | 3/23/2017 |
|
||||||||||||||||||||||||||||
| C-Store | Orlando, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 1991 | 12/19/2013 |
|
||||||||||||||||||||||||||||
| C-Store | Bergman, AR | (b) |
|
|
|
|
|
|
|
(
|
) | 1996 | 9/30/2016 |
|
||||||||||||||||||||||||||||
| C-Store | Fayetteville, AR | (b) |
|
|
|
|
|
|
|
(
|
) | 1996 | 9/30/2016 |
|
||||||||||||||||||||||||||||
| C-Store | Richland, MO | (b) |
|
|
|
|
|
|
|
(
|
) | 1984 | 5/5/2017 |
|
||||||||||||||||||||||||||||
| C-Store | Orlando, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 1995 | 12/19/2013 |
|
||||||||||||||||||||||||||||
| C-Store | Berryville, AR | (b) |
|
|
|
|
|
|
|
(
|
) | 1996 | 9/30/2016 |
|
||||||||||||||||||||||||||||
| C-Store | Holiday Island, AR | (b) |
|
|
|
|
|
|
|
(
|
) | 2000 | 5/5/2017 |
|
||||||||||||||||||||||||||||
| C-Store | Apopka, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 1989 | 12/19/2013 |
|
||||||||||||||||||||||||||||
| C-Store | Branson, MO | (b) |
|
|
|
|
|
|
|
(
|
) | 1992 | 3/23/2017 |
|
||||||||||||||||||||||||||||
| C-Store | Harrison, AR | (b) |
|
|
|
|
|
|
|
(
|
) | 1981 | 9/30/2016 |
|
||||||||||||||||||||||||||||
| C-Store | Orlando, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 1994 | 12/19/2013 |
|
||||||||||||||||||||||||||||
| C-Store | Branson, MO | (b) |
|
|
|
|
|
|
|
(
|
) | 1999 | 9/30/2016 |
|
||||||||||||||||||||||||||||
| C-Store | Springfield, MO | (b) |
|
|
|
|
|
|
|
(
|
) | 1988 | 3/31/2016 |
|
||||||||||||||||||||||||||||
| C-Store | Springdale, AR | (b) |
|
|
|
|
|
|
|
(
|
) | 2010 | 9/30/2016 |
|
||||||||||||||||||||||||||||
| C-Store | Harrison, AR | (b) |
|
|
|
|
|
|
|
(
|
) | 1996 | 9/30/2016 |
|
||||||||||||||||||||||||||||
| C-Store | Orlando, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 2001 | 12/19/2013 |
|
||||||||||||||||||||||||||||
| C-Store | Springfield, MO | (b) |
|
|
|
|
|
|
|
(
|
) | 1987 | 3/31/2016 |
|
||||||||||||||||||||||||||||
|
Initial Cost to Company
|
Cost Capitalized Subsequent to
Acquisition including
impairment
|
Gross Amount at
December 31, 2020
(d)
|
||||||||||||||||||||||||||||||||||||||||
|
Concept
|
City, State
|
Encumbrances
(c)
|
Land and
Improvements
|
Buildings and
Improvements
|
Land and
Improvements
|
Buildings and
Improvements
|
Land and
Improvements
|
Buildings and
Improvements
|
Total
|
Final
Accumulated
Depreciation
|
Date of
Construction
|
Date
Acquired
|
Life in which
depreciation in
latest
Statement of
Operations is
computed
|
|||||||||||||||||||||||||||||
| C-Store | Springfield, MO | (b) |
|
|
|
|
|
|
|
(
|
) | 1989 | 3/31/2016 |
|
||||||||||||||||||||||||||||
| C-Store | Neosho, MO | (b) |
|
|
|
|
|
|
|
(
|
) | 2002 | 9/30/2016 |
|
||||||||||||||||||||||||||||
| C-Store | Harrison, AR | (b) |
|
|
|
|
|
|
|
(
|
) | 1971 | 9/30/2016 |
|
||||||||||||||||||||||||||||
| C-Store | Kissimmee, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 2005 | 12/19/2013 |
|
||||||||||||||||||||||||||||
| C-Store | Ridgedale, MO | (b) |
|
|
|
|
|
|
|
(
|
) | 1995 | 9/30/2016 |
|
||||||||||||||||||||||||||||
| C-Store | Harrison, AR | (b) |
|
|
|
|
|
|
|
(
|
) | 1980 | 9/30/2016 |
|
||||||||||||||||||||||||||||
| C-Store | Orlando, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 2001 | 12/19/2013 |
|
||||||||||||||||||||||||||||
| C-Store | Forsyth, MO | (b) |
|
|
|
|
|
|
|
(
|
) | 1950 | 9/30/2016 |
|
||||||||||||||||||||||||||||
| C-Store | Harrison, AR | (b) |
|
|
|
|
|
|
|
(
|
) | 1982 | 9/30/2016 |
|
||||||||||||||||||||||||||||
| C-Store | Fayetteville, AR | (b) |
|
|
|
|
|
|
|
(
|
) | 1996 | 9/30/2016 |
|
||||||||||||||||||||||||||||
| C-Store | Yellville, AR | (b) |
|
|
|
|
|
|
|
(
|
) | 1984 | 9/30/2016 |
|
||||||||||||||||||||||||||||
| C-Store | Harrison, AR | (b) |
|
|
|
|
|
|
|
(
|
) | 1985 | 9/30/2016 |
|
||||||||||||||||||||||||||||
| C-Store | Lead Hill, AR | (b) |
|
|
|
|
|
|
|
(
|
) | 1974 | 9/30/2016 |
|
||||||||||||||||||||||||||||
| C-Store | Oviedo, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 1995 | 12/19/2013 |
|
||||||||||||||||||||||||||||
| C-Store | Branson, MO | (b) |
|
|
|
|
|
|
|
(
|
) | 1993 | 9/30/2016 |
|
||||||||||||||||||||||||||||
| C-Store | Mountain Home, AR | (b) |
|
|
|
|
|
|
|
(
|
) | 1991 | 9/30/2016 |
|
||||||||||||||||||||||||||||
| C-Store | Marshfield, MO | (b) |
|
|
|
|
|
|
|
(
|
) | 1987 | 3/31/2016 |
|
||||||||||||||||||||||||||||
|
Curacao
(f)
|
Fountain Valley, CA | (b) |
|
|
(
|
) |
(
|
) |
|
|
|
(
|
) | 1968 | 12/30/2014 |
|
||||||||||||||||||||||||||
| Curt Manufacturing | Altoona, WI | (b) |
|
|
|
|
|
|
|
(
|
) | 2009 | 11/13/2020 |
|
||||||||||||||||||||||||||||
| Curt Manufacturing | Altoona, WI | (b) |
|
|
|
|
|
|
|
(
|
) | 2010 | 11/13/2020 |
|
||||||||||||||||||||||||||||
| CVS | St. John, MO | (b) |
|
|
|
|
|
|
|
(
|
) | 1996 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| CVS | Glenville Scotia, NY | (b) |
|
|
|
|
|
|
|
(
|
) | 2006 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| CVS | Clinton, NY | (b) |
|
|
|
|
|
|
|
(
|
) | 2005 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| CVS | Mechanicville, NY | (b) |
|
|
|
|
|
|
|
(
|
) | 1997 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| CVS | Dallas, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 1995 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| CVS | Maynard, MA | (b) |
|
|
|
|
|
|
|
(
|
) | 2004 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| CVS | Lake Worth, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 1996 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| CVS | Richardson, TX | (a) |
|
|
|
|
|
|
|
(
|
) | 1996 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| CVS | River Oaks, TX | (a) |
|
|
|
|
|
|
|
(
|
) | 1996 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| CVS | The Colony, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 1996 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| CVS | Wichita Falls, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 1995 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| CVS | Wichita Falls, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 1995 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| CVS | Amarillo, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 1994 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| CVS | Richland Hills, TX | (a) |
|
|
|
|
|
|
|
(
|
) | 1997 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| CVS | Alpharetta, GA | (a) |
|
|
|
|
|
|
|
(
|
) | 1998 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| CVS | Atlanta, GA | (a) |
|
|
|
|
|
|
|
(
|
) | 2006 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| CVS | Lincoln, IL | (a) |
|
|
|
|
|
|
|
(
|
) | 2007 | 7/17/2013 |
|
||||||||||||||||||||||||||||
|
Initial Cost to Company
|
Cost Capitalized Subsequent to
Acquisition including
impairment
|
Gross Amount at
December 31, 2020
(d)
|
||||||||||||||||||||||||||||||||||||||||
|
Concept
|
City, State
|
Encumbrances
(c)
|
Land and
Improvements
|
Buildings and
Improvements
|
Land and
Improvements
|
Buildings and
Improvements
|
Land and
Improvements
|
Buildings and
Improvements
|
Total
|
Final
Accumulated
Depreciation
|
Date of
Construction
|
Date
Acquired
|
Life in which
depreciation in
latest
Statement of
Operations is
computed
|
|||||||||||||||||||||||||||||
| CVS | Okeechobee, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 2001 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| CVS | Orlando, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 2005 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| CVS | Kissimmee, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 1995 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| CVS | Indianapolis, IN | (a) |
|
|
|
|
|
|
|
(
|
) | 1997 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| CVS | Indianapolis, IN | (a) |
|
|
|
|
|
|
|
(
|
) | 1998 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| CVS | Gulfport, MS | (b) |
|
|
|
|
|
|
|
(
|
) | 2000 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| CVS | Madison, MS | (b) |
|
|
|
|
|
|
|
(
|
) | 2004 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| CVS | Waynesville, NC | (b) |
|
|
|
|
|
|
|
(
|
) | 2005 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| CVS | Hamilton, OH | (b) |
|
|
|
|
|
|
|
(
|
) | 1998 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| CVS | Portsmouth, OH | (b) |
|
|
(
|
) |
(
|
) |
|
|
|
(
|
) | 1997 | 7/17/2013 |
|
||||||||||||||||||||||||||
| CVS | Del City, OK | (b) |
|
|
|
|
|
|
|
(
|
) | 1998 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| CVS | New Cumberland, PA | (b) |
|
|
|
|
|
|
|
(
|
) | 2007 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| CVS | Myrtle Beach, SC | (b) |
|
|
|
|
|
|
|
(
|
) | 2004 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| CVS | Florence, SC | (b) |
|
|
|
|
|
|
|
(
|
) | 1998 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| CVS | Columbia, TN | (b) |
|
|
|
|
|
|
|
(
|
) | 1997 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| CVS | Onley, VA | (b) |
|
|
|
|
|
|
|
(
|
) | 2007 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Dairy Queen | Anchorage, AK | (b) |
|
|
|
|
|
|
|
(
|
) | 2007 | 2/16/2017 |
|
||||||||||||||||||||||||||||
| Dairy Queen | Anchorage, AK | (b) |
|
|
|
|
|
|
|
(
|
) | 2010 | 2/16/2017 |
|
||||||||||||||||||||||||||||
| Dairy Queen | Wasilla, AK | (b) |
|
|
|
|
|
|
|
(
|
) | 1984 | 2/16/2017 |
|
||||||||||||||||||||||||||||
| Dairy Queen | Palmer, AK | (b) |
|
|
|
|
|
|
|
(
|
) | 2000 | 2/16/2017 |
|
||||||||||||||||||||||||||||
| Dave & Buster’s | Westlake, OH | (b) |
|
|
|
|
|
|
|
(
|
) | 2016 | 5/18/2017 |
|
||||||||||||||||||||||||||||
| Dave & Buster’s | Addison, IL | (b) |
|
|
|
|
|
|
|
(
|
) | 1995 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Dave & Buster’s | Tucson, AZ | (b) |
|
|
|
|
|
|
|
(
|
) | 2017 | 3/31/2017 |
|
||||||||||||||||||||||||||||
| David’s Bridal | Lenexa, KS | (b) |
|
|
|
|
|
|
|
(
|
) | 2005 | 7/17/2013 |
|
||||||||||||||||||||||||||||
|
David’s Bridal
(f)
|
Topeka, KS | (b) |
|
|
|
(
|
) |
|
|
|
(
|
) | 2006 | 7/17/2013 |
|
|||||||||||||||||||||||||||
| Davis-Standard | Pawcatuck, CT | (b) |
|
|
|
|
|
|
|
(
|
) | 1969 | 10/27/2016 |
|
||||||||||||||||||||||||||||
| Davis-Standard | Fulton, NY | (b) |
|
|
|
|
|
|
|
(
|
) | 1983 | 10/27/2016 |
|
||||||||||||||||||||||||||||
| Defined Fitness | Farmington, NM | (b) |
|
|
|
|
|
|
|
(
|
) | 1999 | 4/23/2015 |
|
||||||||||||||||||||||||||||
| Defined Fitness | Albuquerque, NM | (b) |
|
|
|
|
|
|
|
(
|
) | 2001 | 4/23/2015 |
|
||||||||||||||||||||||||||||
| Defined Fitness | Albuquerque, NM | (b) |
|
|
|
|
|
|
|
(
|
) | 1972 | 4/23/2015 |
|
||||||||||||||||||||||||||||
| Defined Fitness | Albuquerque, NM | (b) |
|
|
|
|
|
|
|
(
|
) | 1995 | 4/23/2015 |
|
||||||||||||||||||||||||||||
| Defined Fitness | Rio Rancho, NM | (b) |
|
|
|
|
|
|
|
(
|
) | 1997 | 4/23/2015 |
|
||||||||||||||||||||||||||||
| Defined Fitness | Albuquerque, NM | (b) |
|
|
|
|
|
|
|
(
|
) | 2020 | 12/27/2019 |
|
||||||||||||||||||||||||||||
| Defined Fitness | Rio Rancho, NM | (b) |
|
|
|
|
|
|
|
(
|
) | 2020 | 11/24/2020 |
|
||||||||||||||||||||||||||||
| Defy Trampoline Park | Little Rock, AR | (b) |
|
|
|
|
|
|
|
(
|
) | 2017 | 9/29/2017 |
|
||||||||||||||||||||||||||||
| Defy Trampoline Park | Indianapolis, IN | (b) |
|
|
|
|
|
|
|
(
|
) | 2018 | 8/31/2018 |
|
||||||||||||||||||||||||||||
| Defy Trampoline Park | Wilmington, NC | (b) |
|
|
|
|
|
|
|
(
|
) | 2006 | 9/30/2015 |
|
||||||||||||||||||||||||||||
|
Initial Cost to Company
|
Cost Capitalized Subsequent to
Acquisition including
impairment
|
Gross Amount at
December 31, 2020
(d)
|
||||||||||||||||||||||||||||||||||||||||
|
Concept
|
City, State
|
Encumbrances
(c)
|
Land and
Improvements
|
Buildings and
Improvements
|
Land and
Improvements
|
Buildings and
Improvements
|
Land and
Improvements
|
Buildings and
Improvements
|
Total
|
Final
Accumulated
Depreciation
|
Date of
Construction
|
Date
Acquired
|
Life in which
depreciation in
latest
Statement of
Operations is
computed
|
|||||||||||||||||||||||||||||
| Defy Trampoline Park | Baton Rouge, LA | (b) |
|
|
|
|
|
|
|
(
|
) | 2015 | 11/13/2015 |
|
||||||||||||||||||||||||||||
| Defy Trampoline Park | Flowood, MS | (b) |
|
|
|
|
|
|
|
(
|
) | 1995 | 11/13/2015 |
|
||||||||||||||||||||||||||||
| Defy Trampoline Park | Augusta, GA | (b) |
|
|
|
|
|
|
|
(
|
) | 1998 | 9/30/2015 |
|
||||||||||||||||||||||||||||
| Defy Trampoline Park | Brentwood, TN | (b) |
|
|
|
|
|
|
|
(
|
) | 1970 | 9/30/2015 |
|
||||||||||||||||||||||||||||
| Defy Trampoline Park | Clovis, CA | (b) |
|
|
|
|
|
|
|
(
|
) | 2017 | 12/6/2016 |
|
||||||||||||||||||||||||||||
| Defy Trampoline Park | Rogers, AR | (b) |
|
|
|
|
|
|
|
(
|
) | 2014 | 9/30/2015 |
|
||||||||||||||||||||||||||||
|
Defy Trampoline Park
(f)
|
Louisville, KY | (b) |
|
|
|
|
|
|
|
(
|
) | 1995 | 11/2/2015 |
|
||||||||||||||||||||||||||||
| Denny’s | Benson, AZ | (b) |
|
|
|
|
|
|
|
(
|
) | 1996 | 3/20/2015 |
|
||||||||||||||||||||||||||||
| Denny’s | Fountain Hills, AZ | (b) |
|
|
(
|
) |
|
|
|
|
(
|
) | 1995 | 11/25/2019 |
|
|||||||||||||||||||||||||||
| Dillon Tire | Lincoln, NE | (b) |
|
|
|
|
|
|
|
(
|
) | 1972 | 11/25/2019 |
|
||||||||||||||||||||||||||||
| Direct Shot Distributing | Franklin, IN | (b) |
|
|
|
|
|
|
|
(
|
) | 2020 | 11/10/2020 |
|
||||||||||||||||||||||||||||
| Dollar General | Creal Springs, IL | (b) |
|
|
|
|
|
|
|
(
|
) | 2014 | 4/27/2015 |
|
||||||||||||||||||||||||||||
| Dollar General | Fruita, CO | (a) |
|
|
|
|
|
|
|
(
|
) | 2012 | 10/29/2013 |
|
||||||||||||||||||||||||||||
| Dollar General | De Soto, KS | (a) |
|
|
|
|
|
|
|
(
|
) | 2012 | 10/29/2013 |
|
||||||||||||||||||||||||||||
| Dollar General | La Cygne, KS | (a) |
|
|
|
|
|
|
|
(
|
) | 2012 | 10/29/2013 |
|
||||||||||||||||||||||||||||
| Dollar General | Topeka, KS | (a) |
|
|
|
|
|
|
|
(
|
) | 2012 | 10/29/2013 |
|
||||||||||||||||||||||||||||
| Dollar General | Emporia, KS | (a) |
|
|
|
|
|
|
|
(
|
) | 2012 | 10/29/2013 |
|
||||||||||||||||||||||||||||
| Dollar General | Hill City, KS | (a) |
|
|
|
|
|
|
|
(
|
) | 2012 | 10/29/2013 |
|
||||||||||||||||||||||||||||
| Dollar General | Pagosa Springs, CO | (a) |
|
|
|
|
|
|
|
(
|
) | 2012 | 10/29/2013 |
|
||||||||||||||||||||||||||||
| Dollar General | Silt, CO | (a) |
|
|
|
|
|
|
|
(
|
) | 2012 | 10/29/2013 |
|
||||||||||||||||||||||||||||
| Dollar General | Tornillo, TX | (a) |
|
|
|
|
|
|
|
(
|
) | 2012 | 10/29/2013 |
|
||||||||||||||||||||||||||||
| Dollar General | Crystal City, TX | (a) |
|
|
|
|
|
|
|
(
|
) | 2012 | 10/29/2013 |
|
||||||||||||||||||||||||||||
| Dollar General | Temple, TX | (a) |
|
|
|
|
|
|
|
(
|
) | 2012 | 10/29/2013 |
|
||||||||||||||||||||||||||||
| Dollar General | Gore, OK | (a) |
|
|
|
|
|
|
|
(
|
) | 2012 | 10/29/2013 |
|
||||||||||||||||||||||||||||
| Dollar General | Stigler, OK | (a) |
|
|
|
|
|
|
|
(
|
) | 2012 | 10/29/2013 |
|
||||||||||||||||||||||||||||
| Dollar General | Okay, OK | (a) |
|
|
|
|
|
|
|
(
|
) | 2012 | 10/29/2013 |
|
||||||||||||||||||||||||||||
| Dollar General | Hobart, OK | (a) |
|
|
|
|
|
|
|
(
|
) | 2012 | 10/29/2013 |
|
||||||||||||||||||||||||||||
| Dollar General | Atoka, OK | (a) |
|
|
|
|
|
|
|
(
|
) | 2012 | 10/29/2013 |
|
||||||||||||||||||||||||||||
| Dollar General | Claremore, OK | (a) |
|
|
|
|
|
|
|
(
|
) | 2012 | 10/29/2013 |
|
||||||||||||||||||||||||||||
| Dollar General | Adair, OK | (a) |
|
|
|
|
|
|
|
(
|
) | 2012 | 10/29/2013 |
|
||||||||||||||||||||||||||||
| Dollar General | Altus, OK | (a) |
|
|
|
|
|
|
|
(
|
) | 2012 | 10/29/2013 |
|
||||||||||||||||||||||||||||
| Dollar General | Ketchum, OK | (a) |
|
|
|
|
|
|
|
(
|
) | 2012 | 10/29/2013 |
|
||||||||||||||||||||||||||||
| Dollar General | Spiro, OK | (a) |
|
|
|
|
|
|
|
(
|
) | 2012 | 10/29/2013 |
|
||||||||||||||||||||||||||||
| Dollar General | Walters, OK | (a) |
|
|
|
|
|
|
|
(
|
) | 2012 | 10/29/2013 |
|
||||||||||||||||||||||||||||
| Dollar General | Sand Springs, OK | (a) |
|
|
|
|
|
|
|
(
|
) | 2012 | 10/29/2013 |
|
||||||||||||||||||||||||||||
| Dollar General | Ord, NE | (a) |
|
|
|
|
|
|
|
(
|
) | 2012 | 10/29/2013 |
|
||||||||||||||||||||||||||||
| Dollar General | Las Cruces, NM | (a) |
|
|
|
|
|
|
|
(
|
) | 2012 | 10/29/2013 |
|
||||||||||||||||||||||||||||
|
Initial Cost to Company
|
Cost Capitalized Subsequent to
Acquisition including
impairment
|
Gross Amount at
December 31, 2020
(d)
|
||||||||||||||||||||||||||||||||||||||||
|
Concept
|
City, State
|
Encumbrances
(c)
|
Land and
Improvements
|
Buildings and
Improvements
|
Land and
Improvements
|
Buildings and
Improvements
|
Land and
Improvements
|
Buildings and
Improvements
|
Total
|
Final
Accumulated
Depreciation
|
Date of
Construction
|
Date
Acquired
|
Life in which
depreciation in
latest
Statement of
Operations is
computed
|
|||||||||||||||||||||||||||||
| Dollar General | Hobbs, NM | (a) |
|
|
|
|
|
|
|
(
|
) | 2012 | 10/29/2013 |
|
||||||||||||||||||||||||||||
| Dollar General | Wetumpka, AL | (a) |
|
|
|
|
|
|
|
(
|
) | 2011 | 9/17/2013 |
|
||||||||||||||||||||||||||||
| Dollar General | Orrville, AL | (a) |
|
|
|
|
|
|
|
(
|
) | 2011 | 9/17/2013 |
|
||||||||||||||||||||||||||||
| Dollar General | Rehobeth, AL | (a) |
|
|
|
|
|
|
|
(
|
) | 2011 | 9/17/2013 |
|
||||||||||||||||||||||||||||
| Dollar General | Tallassee, AL | (a) |
|
|
|
|
|
|
|
(
|
) | 2011 | 9/17/2013 |
|
||||||||||||||||||||||||||||
| Dollar General | Jasper, AL | (a) |
|
|
|
|
|
|
|
(
|
) | 2011 | 9/17/2013 |
|
||||||||||||||||||||||||||||
| Dollar General | Cowarts, AL | (a) |
|
|
|
|
|
|
|
(
|
) | 2011 | 9/17/2013 |
|
||||||||||||||||||||||||||||
| Dollar General | Centre, AL | (a) |
|
|
|
|
|
|
|
(
|
) | 2011 | 9/17/2013 |
|
||||||||||||||||||||||||||||
| Dollar General | Crossville, TN | (a) |
|
|
|
|
|
|
|
(
|
) | 2011 | 9/17/2013 |
|
||||||||||||||||||||||||||||
| Dollar General | Eastaboga, AL | (a) |
|
|
|
|
|
|
|
(
|
) | 2011 | 9/17/2013 |
|
||||||||||||||||||||||||||||
| Dollar General | Enterprise, AL | (a) |
|
|
|
|
|
|
|
(
|
) | 2011 | 9/17/2013 |
|
||||||||||||||||||||||||||||
| Dollar General | Western Grove, AR | (b) |
|
|
|
|
|
|
|
(
|
) | 2014 | 12/15/2014 |
|
||||||||||||||||||||||||||||
| Dollar General | Quinton, OK | (b) |
|
|
|
|
|
|
|
(
|
) | 2014 | 12/15/2014 |
|
||||||||||||||||||||||||||||
| Dollar General | Alpena, AR | (b) |
|
|
|
|
|
|
|
(
|
) | 2014 | 12/15/2014 |
|
||||||||||||||||||||||||||||
| Dollar General | Keota, OK | (b) |
|
|
|
|
|
|
|
(
|
) | 2014 | 12/15/2014 |
|
||||||||||||||||||||||||||||
| Dollar General | Cameron, OK | (b) |
|
|
|
|
|
|
|
(
|
) | 2014 | 12/15/2014 |
|
||||||||||||||||||||||||||||
| Dollar General | Center Ridge, AR | (b) |
|
|
|
|
|
|
|
(
|
) | 2014 | 12/15/2014 |
|
||||||||||||||||||||||||||||
| Dollar General | Lakeview, IA | (b) |
|
|
|
|
|
|
|
(
|
) | 2015 | 4/27/2015 |
|
||||||||||||||||||||||||||||
| Dollar General | Pleasant Hope, MO | (b) |
|
|
|
|
|
|
|
(
|
) | 2014 | 5/14/2015 |
|
||||||||||||||||||||||||||||
| Dollar General | Los Lunas, NM | (b) |
|
|
|
|
|
|
|
(
|
) | 2015 | 5/14/2015 |
|
||||||||||||||||||||||||||||
| Dollar General | Bloomfield, NM | (b) |
|
|
|
|
|
|
|
(
|
) | 2015 | 5/14/2015 |
|
||||||||||||||||||||||||||||
| Dollar General | Drexel, MO | (b) |
|
|
|
|
|
|
|
(
|
) | 2015 | 5/14/2015 |
|
||||||||||||||||||||||||||||
| Dollar General | La Plata, MO | (b) |
|
|
|
|
|
|
|
(
|
) | 2014 | 4/27/2015 |
|
||||||||||||||||||||||||||||
| Dollar General | Pineville, MO | (b) |
|
|
|
|
|
|
|
(
|
) | 2014 | 3/31/2015 |
|
||||||||||||||||||||||||||||
| Dollar General | Aztec, NM | (b) |
|
|
|
|
|
|
|
(
|
) | 2014 | 3/31/2015 |
|
||||||||||||||||||||||||||||
| Dollar General | Bentonia, MS | (b) |
|
|
|
|
|
|
|
(
|
) | 2014 | 6/22/2015 |
|
||||||||||||||||||||||||||||
| Dollar General | Ardmore, TN | (b) |
|
|
|
|
|
|
|
(
|
) | 2005 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Dollar General | Byng, OK | (b) |
|
|
|
|
|
|
|
(
|
) | 2015 | 7/14/2015 |
|
||||||||||||||||||||||||||||
| Dollar General | Maben, MS | (b) |
|
|
|
|
|
|
|
(
|
) | 2014 | 9/24/2015 |
|
||||||||||||||||||||||||||||
| Dollar General | Laurel, MS | (b) |
|
|
|
|
|
|
|
(
|
) | 2012 | 11/25/2019 |
|
||||||||||||||||||||||||||||
| Dollar General | Emmalena, KY | (b) |
|
|
|
|
|
|
|
(
|
) | 2018 | 9/30/2020 |
|
||||||||||||||||||||||||||||
| Dollar General | Grethel, KY | (b) |
|
|
|
|
|
|
|
(
|
) | 2018 | 9/30/2020 |
|
||||||||||||||||||||||||||||
| Dollar General | Wooten, KY | (b) |
|
|
|
|
|
|
|
(
|
) | 2018 | 9/30/2020 |
|
||||||||||||||||||||||||||||
| Dollar General | Salyersville, KY | (b) |
|
|
|
|
|
|
|
(
|
) | 2019 | 9/30/2020 |
|
||||||||||||||||||||||||||||
| Dollar General | Salyersville, KY | (b) |
|
|
|
|
|
|
|
(
|
) | 2019 | 9/30/2020 |
|
||||||||||||||||||||||||||||
| Dollar General | Tyner, KY | (b) |
|
|
|
|
|
|
|
(
|
) | 2019 | 9/30/2020 |
|
||||||||||||||||||||||||||||
| Dollar General | Spencer, NY | (b) |
|
|
|
|
|
|
|
|
2019 | 12/22/2020 |
|
|||||||||||||||||||||||||||||
|
Initial Cost to Company
|
Cost Capitalized Subsequent to
Acquisition including
impairment
|
Gross Amount at
December 31, 2020
(d)
|
||||||||||||||||||||||||||||||||||||||||
|
Concept
|
City, State
|
Encumbrances
(c)
|
Land and
Improvements
|
Buildings and
Improvements
|
Land and
Improvements
|
Buildings and
Improvements
|
Land and
Improvements
|
Buildings and
Improvements
|
Total
|
Final
Accumulated
Depreciation
|
Date of
Construction
|
Date
Acquired
|
Life in which
depreciation in
latest
Statement of
Operations is
computed
|
|||||||||||||||||||||||||||||
| Dollar General | Munnsville, NY | (b) |
|
|
|
|
|
|
|
|
2019 | 12/22/2020 |
|
|||||||||||||||||||||||||||||
| Dollar General | Washburn, ME | (b) |
|
|
|
|
|
|
|
|
2018 | 12/22/2020 |
|
|||||||||||||||||||||||||||||
| Dollar General | Andover, NY | (b) |
|
|
|
|
|
|
|
|
2019 | 12/22/2020 |
|
|||||||||||||||||||||||||||||
| Dollar Tree / Family Dollar | Portsmouth, OH | (a) |
|
|
(
|
) |
(
|
) |
|
|
|
(
|
) | 1997 | 7/17/2013 |
|
||||||||||||||||||||||||||
| Dollar Tree / Family Dollar | Alliance, OH | (b) |
|
|
(
|
) |
(
|
) |
|
|
|
(
|
) | 1996 | 7/17/2013 |
|
||||||||||||||||||||||||||
| Dollar Tree / Family Dollar | Mesa, AZ | (b) |
|
|
|
|
|
|
|
(
|
) | 1955 | 11/13/2014 |
|
||||||||||||||||||||||||||||
| Dollar Tree / Family Dollar | Kincheloe, MI | (b) |
|
|
|
|
|
|
|
(
|
) | 2014 | 3/20/2015 |
|
||||||||||||||||||||||||||||
|
Dollar Tree / Family Dollar
|
Mansfield, OH | (b) |
|
|
|
|
|
|
|
(
|
) | 2014 | 4/28/2015 |
|
||||||||||||||||||||||||||||
|
Dollar Tree / Family Dollar
|
Des Moines, IA | (b) |
|
|
|
|
|
|
|
(
|
) | 2014 | 3/20/2015 |
|
||||||||||||||||||||||||||||
|
Dollar Tree / Family Dollar
|
Otter Tail, MN | (b) |
|
|
|
|
|
|
|
(
|
) | 2014 | 3/20/2015 |
|
||||||||||||||||||||||||||||
|
Dollar Tree / Family Dollar
|
Evart, MI | (b) |
|
|
|
|
|
|
|
(
|
) | 2014 | 3/20/2015 |
|
||||||||||||||||||||||||||||
|
Dollar Tree / Family Dollar
|
Anderson, IN | (b) |
|
|
|
|
|
|
|
(
|
) | 2015 | 3/20/2015 |
|
||||||||||||||||||||||||||||
|
Dollar Tree / Family Dollar
|
Bulls Gap, TN | (b) |
|
|
|
|
|
|
|
(
|
) | 2014 | 3/20/2015 |
|
||||||||||||||||||||||||||||
|
Dollar Tree / Family Dollar
|
Duluth, MN | (b) |
|
|
|
|
|
|
|
(
|
) | 2015 | 5/12/2015 |
|
||||||||||||||||||||||||||||
|
Dollar Tree / Family Dollar
|
Buena Vista, GA | (b) |
|
|
|
|
|
|
|
(
|
) | 2014 | 9/19/2019 |
|
||||||||||||||||||||||||||||
|
Dollar Tree / Family Dollar
|
Montgomery, AL | (b) |
|
|
|
|
|
|
|
(
|
) | 2014 | 9/19/2019 |
|
||||||||||||||||||||||||||||
|
Dollar Tree / Family Dollar
|
Clarksville, TN | (b) |
|
|
|
|
|
|
|
(
|
) | 2014 | 9/19/2019 |
|
||||||||||||||||||||||||||||
|
Dollar Tree / Family Dollar
|
Standish, ME | (b) |
|
|
|
|
|
|
|
(
|
) | 2014 | 9/19/2019 |
|
||||||||||||||||||||||||||||
|
Dollar Tree / Family Dollar
|
Prattville, AL | (b) |
|
|
|
|
|
|
|
(
|
) | 2014 | 9/19/2019 |
|
||||||||||||||||||||||||||||
|
Dollar Tree / Family Dollar
|
Southaven, MS | (b) |
|
|
|
|
|
|
|
(
|
) | 2014 | 9/19/2019 |
|
||||||||||||||||||||||||||||
|
Dollar Tree / Family Dollar
|
Prichard, AL | (b) |
|
|
|
|
|
|
|
(
|
) | 2014 | 9/19/2019 |
|
||||||||||||||||||||||||||||
|
Dollar Tree / Family Dollar
|
Marion, MS | (b) |
|
|
|
|
|
|
|
(
|
) | 2014 | 9/19/2019 |
|
||||||||||||||||||||||||||||
|
Dollar Tree / Family Dollar
|
Ridgeland, MS | (b) |
|
|
|
|
|
|
|
(
|
) | 2014 | 9/19/2019 |
|
||||||||||||||||||||||||||||
|
Dollar Tree / Family Dollar
|
Brownsville, TN | (b) |
|
|
|
|
|
|
|
(
|
) | 2014 | 9/19/2019 |
|
||||||||||||||||||||||||||||
|
Dollar Tree / Family Dollar
|
Big Sandy, TN | (b) |
|
|
|
|
|
|
|
(
|
) | 2014 | 9/19/2019 |
|
||||||||||||||||||||||||||||
|
Dollar Tree / Family Dollar
|
Brundidge, AL | (b) |
|
|
|
|
|
|
|
(
|
) | 2014 | 9/19/2019 |
|
||||||||||||||||||||||||||||
|
Dollar Tree / Family Dollar
|
Oakdale, LA | (b) |
|
|
|
|
|
|
|
(
|
) | 2014 | 9/19/2019 |
|
||||||||||||||||||||||||||||
|
Dollar Tree / Family Dollar
|
North Little Rock, AR | (b) |
|
|
|
|
|
|
|
(
|
) | 2014 | 9/19/2019 |
|
||||||||||||||||||||||||||||
|
Dollar Tree / Family Dollar
|
Quinlan, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 2014 | 9/19/2019 |
|
||||||||||||||||||||||||||||
|
Dollar Tree / Family Dollar
|
Boling-Iago, TX |
(b)
|
|
|
|
|
|
|
|
(
|
) | 2013 | 9/19/2019 |
|
||||||||||||||||||||||||||||
|
Dollar Tree / Family Dollar
|
Rising Star, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 2014 | 9/19/2019 |
|
||||||||||||||||||||||||||||
|
Dollar Tree / Family Dollar
|
Lake Charles, LA | (b) |
|
|
|
|
|
|
|
(
|
) | 2014 | 9/19/2019 |
|
||||||||||||||||||||||||||||
|
Dollar Tree / Family Dollar
|
Marsing, ID | (b) |
|
|
|
|
|
|
|
(
|
) | 2014 | 9/19/2019 |
|
||||||||||||||||||||||||||||
|
Dollar Tree / Family Dollar
|
Calvert, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 2014 | 9/19/2019 |
|
||||||||||||||||||||||||||||
|
Dollar Tree / Family Dollar
|
Hillsboro, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 2014 | 9/19/2019 |
|
||||||||||||||||||||||||||||
|
Initial Cost to Company
|
Cost Capitalized Subsequent to
Acquisition including
impairment
|
Gross Amount at
December 31, 2020
(d)
|
||||||||||||||||||||||||||||||||||||||||
|
Concept
|
City, State
|
Encumbrances
(c)
|
Land and
Improvements
|
Buildings and
Improvements
|
Land and
Improvements
|
Buildings and
Improvements
|
Land and
Improvements
|
Buildings and
Improvements
|
Total
|
Final
Accumulated
Depreciation
|
Date of
Construction
|
Date
Acquired
|
Life in which
depreciation in
latest
Statement of
Operations is
computed
|
|||||||||||||||||||||||||||||
|
Dollar Tree / Family Dollar
|
Monticello, UT | (b) |
|
|
|
|
|
|
|
(
|
) | 2013 | 9/19/2019 |
|
||||||||||||||||||||||||||||
|
Dollar Tree / Family Dollar
|
Bonifay, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 2014 | 6/28/2019 |
|
||||||||||||||||||||||||||||
|
Dollar Tree / Family Dollar
|
Monticello, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 2014 | 6/28/2019 |
|
||||||||||||||||||||||||||||
|
Dollar Tree / Family Dollar
|
Lakeland, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 2014 | 6/28/2019 |
|
||||||||||||||||||||||||||||
|
Dollar Tree / Family Dollar
|
Sanford, NC | (b) |
|
|
|
|
|
|
|
(
|
) | 2014 | 6/28/2019 |
|
||||||||||||||||||||||||||||
|
Dollar Tree / Family Dollar
|
Lansing, MI | (b) |
|
|
|
|
|
|
|
(
|
) | 2013 | 6/28/2019 |
|
||||||||||||||||||||||||||||
|
Dollar Tree / Family Dollar
|
Laurens, SC | (b) |
|
|
|
|
|
|
|
(
|
) | 2014 | 6/28/2019 |
|
||||||||||||||||||||||||||||
|
Dollar Tree / Family Dollar
|
Chocowinity, NC | (b) |
|
|
|
|
|
|
|
(
|
) | 2014 | 6/28/2019 |
|
||||||||||||||||||||||||||||
|
Dollar Tree / Family Dollar
|
Hubert, NC | (b) |
|
|
|
|
|
|
|
(
|
) | 2014 | 6/28/2019 |
|
||||||||||||||||||||||||||||
|
Dollar Tree / Family Dollar
|
St. Petersburg, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 2014 | 6/28/2019 |
|
||||||||||||||||||||||||||||
|
Dollar Tree / Family Dollar
|
Fort Mill, SC | (b) |
|
|
|
|
|
|
|
(
|
) | 2014 | 6/28/2019 |
|
||||||||||||||||||||||||||||
|
Dollar Tree / Family Dollar
|
Port St. Lucie, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 2014 | 6/28/2019 |
|
||||||||||||||||||||||||||||
|
Dollar Tree / Family Dollar
|
Orlando, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 2014 | 6/28/2019 |
|
||||||||||||||||||||||||||||
|
Dollar Tree / Family Dollar
|
Mobile, AL | (b) |
|
|
|
|
|
|
|
(
|
) | 2013 | 6/28/2019 |
|
||||||||||||||||||||||||||||
|
Dollar Tree / Family Dollar
|
Bossier City, LA | (b) |
|
|
|
|
|
|
|
(
|
) | 2013 | 6/28/2019 |
|
||||||||||||||||||||||||||||
|
Dollar Tree / Family Dollar
|
Lillian, AL | (b) |
|
|
|
|
|
|
|
(
|
) | 2013 | 6/28/2019 |
|
||||||||||||||||||||||||||||
|
Dollar Tree / Family Dollar
|
Alapaha, GA | (b) |
|
|
|
|
|
|
|
(
|
) | 2013 | 6/28/2019 |
|
||||||||||||||||||||||||||||
|
Dollar Tree / Family Dollar
|
Church Point, LA | (b) |
|
|
|
|
|
|
|
(
|
) | 2013 | 6/28/2019 |
|
||||||||||||||||||||||||||||
|
Dollar Tree / Family Dollar
|
Griffin, GA | (b) |
|
|
|
|
|
|
|
(
|
) | 1976 | 6/28/2019 |
|
||||||||||||||||||||||||||||
|
Dollar Tree / Family Dollar
|
Atlanta, GA | (b) |
|
|
|
|
|
|
|
(
|
) | 1968 | 6/28/2019 |
|
||||||||||||||||||||||||||||
|
Dollar Tree / Family Dollar
|
Abbeville, AL | (b) |
|
|
|
|
|
|
|
(
|
) | 2013 | 6/28/2019 |
|
||||||||||||||||||||||||||||
|
Dollar Tree / Family Dollar
|
Anniston, AL | (b) |
|
|
|
|
|
|
|
(
|
) | 2013 | 6/28/2019 |
|
||||||||||||||||||||||||||||
|
Dollar Tree / Family Dollar
|
Doerun, GA | (b) |
|
|
|
|
|
|
|
(
|
) | 2014 | 6/28/2019 |
|
||||||||||||||||||||||||||||
|
Dollar Tree / Family Dollar
|
Danville, VA | (b) |
|
|
|
|
|
|
|
(
|
) | 2013 | 6/28/2019 |
|
||||||||||||||||||||||||||||
|
Dollar Tree / Family Dollar
|
Nampa, ID | (b) |
|
|
|
|
|
|
|
(
|
) | 2002 | 6/28/2019 |
|
||||||||||||||||||||||||||||
|
Dollar Tree / Family Dollar
|
Hastings, NE | (b) |
|
|
|
|
|
|
|
(
|
) | 2002 | 6/28/2019 |
|
||||||||||||||||||||||||||||
|
Dollar Tree / Family Dollar
|
Detroit, MI | (b) |
|
|
|
|
|
|
|
(
|
) | 1932 | 6/28/2019 |
|
||||||||||||||||||||||||||||
|
Dollar Tree / Family Dollar
|
Rockford, IL | (b) |
|
|
|
|
|
|
|
(
|
) | 1988 | 6/28/2019 |
|
||||||||||||||||||||||||||||
|
Dollar Tree / Family Dollar
|
Newberry, MI | (b) |
|
|
|
|
|
|
|
(
|
) | 2010 | 6/28/2019 |
|
||||||||||||||||||||||||||||
|
Dollar Tree / Family Dollar
|
Mohave Valley, AZ | (b) |
|
|
|
|
|
|
|
(
|
) | 1974 | 6/28/2019 |
|
||||||||||||||||||||||||||||
|
Dollar Tree / Family Dollar
|
Fort Madison, IA | (b) |
|
|
|
|
|
|
|
(
|
) | 2003 | 6/28/2019 |
|
||||||||||||||||||||||||||||
|
Dollar Tree / Family Dollar
|
Paulden, AZ | (b) |
|
|
|
|
|
|
|
(
|
) | 2013 | 6/28/2019 |
|
||||||||||||||||||||||||||||
|
Dollar Tree / Family Dollar
|
N. Platte, NE | (b) |
|
|
|
|
|
|
|
(
|
) | 2002 | 6/28/2019 |
|
||||||||||||||||||||||||||||
|
Dollar Tree / Family Dollar
|
St. Louis, MO | (b) |
|
|
|
|
|
|
|
(
|
) | 2004 | 9/19/2019 |
|
||||||||||||||||||||||||||||
|
Initial Cost to Company
|
Cost Capitalized Subsequent to
Acquisition including
impairment
|
Gross Amount at
December 31, 2020
(d)
|
||||||||||||||||||||||||||||||||||||||||
|
Concept
|
City, State
|
Encumbrances
(c)
|
Land and
Improvements
|
Buildings and
Improvements
|
Land and
Improvements
|
Buildings and
Improvements
|
Land and
Improvements
|
Buildings and
Improvements
|
Total
|
Final
Accumulated
Depreciation
|
Date of
Construction
|
Date
Acquired
|
Life in which
depreciation in
latest
Statement of
Operations is
computed
|
|||||||||||||||||||||||||||||
|
Dollar Tree / Family Dollar
|
Grenada, MS | (b) |
|
|
|
|
|
|
|
(
|
) | 2013 | 9/19/2019 |
|
||||||||||||||||||||||||||||
|
Dollar Tree / Family Dollar
|
Union, MS | (b) |
|
|
|
|
|
|
|
(
|
) | 2013 | 9/19/2019 |
|
||||||||||||||||||||||||||||
|
Dollar Tree / Family Dollar
|
Mendenhall, MS | (b) |
|
|
|
|
|
|
|
(
|
) | 2014 | 9/19/2019 |
|
||||||||||||||||||||||||||||
|
Dollar Tree / Family Dollar
|
Oklahoma City, OK | (b) |
|
|
|
|
|
|
|
(
|
) | 1991 | 9/19/2019 |
|
||||||||||||||||||||||||||||
|
Dollar Tree / Family Dollar
|
Kansas City, MO | (b) |
|
|
|
|
|
|
|
(
|
) | 2003 | 9/19/2019 |
|
||||||||||||||||||||||||||||
|
Dollar Tree / Family Dollar
|
Diamond Head, MS | (b) |
|
|
|
|
|
|
|
(
|
) | 2013 | 9/19/2019 |
|
||||||||||||||||||||||||||||
|
Dollar Tree / Family Dollar
|
Columbus, MS | (b) |
|
|
|
|
|
|
|
(
|
) | 1986 | 9/19/2019 |
|
||||||||||||||||||||||||||||
|
Dollar Tree / Family Dollar
|
Caledonia, MS | (b) |
|
|
|
|
|
|
|
(
|
) | 2013 | 9/19/2019 |
|
||||||||||||||||||||||||||||
|
Dollar Tree / Family Dollar
|
Louisville, MS | (b) |
|
|
|
|
|
|
|
(
|
) | 2014 | 9/19/2019 |
|
||||||||||||||||||||||||||||
|
Dollar Tree / Family Dollar
|
Madisonville, KY | (b) |
|
|
|
|
|
|
|
(
|
) | 2013 | 6/28/2019 |
|
||||||||||||||||||||||||||||
|
Dollar Tree / Family Dollar
|
Fayetteville, NC | (b) |
|
|
|
|
|
|
|
(
|
) | 1973 | 6/28/2019 |
|
||||||||||||||||||||||||||||
|
Dollar Tree / Family Dollar
|
Old Hickory, TN | (b) |
|
|
|
|
|
|
|
(
|
) | 2013 | 6/28/2019 |
|
||||||||||||||||||||||||||||
|
Dollar Tree / Family Dollar
|
Haw River, NC | (b) |
|
|
|
|
|
|
|
(
|
) | 2013 | 6/28/2019 |
|
||||||||||||||||||||||||||||
|
Dollar Tree / Family Dollar
|
Louisville, KY | (b) |
|
|
|
|
|
|
|
(
|
) | 2013 | 6/28/2019 |
|
||||||||||||||||||||||||||||
|
Dollar Tree / Family Dollar
|
Memphis, TN | (b) |
|
|
|
|
|
|
|
(
|
) | 2005 | 6/28/2019 |
|
||||||||||||||||||||||||||||
|
Dollar Tree / Family Dollar
|
Brandenburg, KY | (b) |
|
|
|
|
|
|
|
(
|
) | 2013 | 6/28/2019 |
|
||||||||||||||||||||||||||||
|
Dollar Tree / Family Dollar
|
Knoxville, TN | (b) |
|
|
|
|
|
|
|
(
|
) | 1986 | 6/28/2019 |
|
||||||||||||||||||||||||||||
|
Dollar Tree / Family Dollar
|
Memphis, TN | (b) |
|
|
|
|
|
|
|
(
|
) | 2013 | 6/28/2019 |
|
||||||||||||||||||||||||||||
|
Dollar Tree / Family Dollar
|
Memphis, TN | (b) |
|
|
|
|
|
|
|
(
|
) | 2003 | 6/28/2019 |
|
||||||||||||||||||||||||||||
|
Dollar Tree / Family Dollar
|
Aiken, SC | (b) |
|
|
|
|
|
|
|
(
|
) | 2013 | 6/28/2019 |
|
||||||||||||||||||||||||||||
|
Dollar Tree / Family Dollar
|
Lancaster, SC | (b) |
|
|
|
|
|
|
|
(
|
) | 2013 | 6/28/2019 |
|
||||||||||||||||||||||||||||
|
Dollar Tree / Family Dollar
|
Hardeeville, SC | (b) |
|
|
|
|
|
|
|
(
|
) | 2013 | 6/28/2019 |
|
||||||||||||||||||||||||||||
|
Dollar Tree / Family Dollar
|
Williamston, SC | (b) |
|
|
|
|
|
|
|
(
|
) | 2013 | 6/28/2019 |
|
||||||||||||||||||||||||||||
|
Dollar Tree / Family Dollar
|
N. Charleston, SC | (b) |
|
|
|
|
|
|
|
(
|
) | 2013 | 6/28/2019 |
|
||||||||||||||||||||||||||||
|
Dollar Tree / Family Dollar
|
Greenwood, SC | (b) |
|
|
|
|
|
|
|
(
|
) | 1975 | 6/28/2019 |
|
||||||||||||||||||||||||||||
|
Dollar Tree / Family Dollar
|
Columbia, SC | (b) |
|
|
|
|
|
|
|
(
|
) | 2013 | 6/28/2019 |
|
||||||||||||||||||||||||||||
|
Dollar Tree / Family Dollar
|
Roebuck, SC | (b) |
|
|
|
|
|
|
|
(
|
) | 2013 | 6/28/2019 |
|
||||||||||||||||||||||||||||
|
Dollar Tree / Family Dollar
|
Camden, SC | (b) |
|
|
|
|
|
|
|
(
|
) | 2013 | 6/28/2019 |
|
||||||||||||||||||||||||||||
|
Dollar Tree / Family Dollar
|
N. Charleston, SC | (b) |
|
|
|
|
|
|
|
(
|
) | 2013 | 6/28/2019 |
|
||||||||||||||||||||||||||||
|
Dollar Tree / Family Dollar
|
Tyler, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 2003 | 6/28/2019 |
|
||||||||||||||||||||||||||||
|
Dollar Tree / Family Dollar
|
La Feria, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 2001 | 6/28/2019 |
|
||||||||||||||||||||||||||||
|
Dollar Tree / Family Dollar
|
Falfurrias, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 1995 | 6/28/2019 |
|
||||||||||||||||||||||||||||
|
Dollar Tree / Family Dollar
|
Olmito, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 2013 | 6/28/2019 |
|
||||||||||||||||||||||||||||
|
Dollar Tree / Family Dollar
|
Fort Davis, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 2014 | 6/28/2019 |
|
||||||||||||||||||||||||||||
|
Initial Cost to Company
|
Cost Capitalized Subsequent to
Acquisition including
impairment
|
Gross Amount at
December 31, 2020
(d)
|
||||||||||||||||||||||||||||||||||||||||
|
Concept
|
City, State
|
Encumbrances
(c)
|
Land and
Improvements
|
Buildings and
Improvements
|
Land and
Improvements
|
Buildings and
Improvements
|
Land and
Improvements
|
Buildings and
Improvements
|
Total
|
Final
Accumulated
Depreciation
|
Date of
Construction
|
Date
Acquired
|
Life in which
depreciation in
latest
Statement of
Operations is
computed
|
|||||||||||||||||||||||||||||
|
Dollar Tree / Family Dollar
|
Poteet, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 1995 | 6/28/2019 |
|
||||||||||||||||||||||||||||
|
Dollar Tree / Family Dollar
|
Camp Wood, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 2014 | 6/28/2019 |
|
||||||||||||||||||||||||||||
|
Dollar Tree / Family Dollar
|
Hallsville, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 2000 | 6/28/2019 |
|
||||||||||||||||||||||||||||
|
Dollar Tree / Family Dollar
|
San Angelo, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 2000 | 6/28/2019 |
|
||||||||||||||||||||||||||||
|
Dollar Tree / Family Dollar
|
Brownfield, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 2001 | 6/28/2019 |
|
||||||||||||||||||||||||||||
|
Dollar Tree / Family Dollar (f)
|
Lakewood, OH | (b) |
|
|
|
(
|
) |
|
|
|
(
|
) | 1996 | 7/17/2013 |
|
|||||||||||||||||||||||||||
|
Drive Time
|
Independence, MO | (b) |
|
|
|
|
|
|
|
(
|
) | 1968 | 11/25/2014 |
|
||||||||||||||||||||||||||||
|
Drive Time
|
Gladstone, MO | (b) |
|
|
|
|
|
|
|
(
|
) | 2005 | 3/11/2015 |
|
||||||||||||||||||||||||||||
|
Duluth Trading Co.
|
Greensboro, NC | (a) |
|
|
|
|
|
|
|
(
|
) | 2007 | 7/17/2013 |
|
||||||||||||||||||||||||||||
|
Eddie Merlot’s
|
Burr Ridge, IL | (b) |
|
|
(
|
) |
(
|
) |
|
|
|
(
|
) | 1997 | 11/25/2019 |
|
||||||||||||||||||||||||||
|
El Chico
|
Tulsa, OK | (b) |
|
|
(
|
) |
(
|
) |
|
|
|
(
|
) | 1976 | 11/25/2019 |
|
||||||||||||||||||||||||||
|
Emagine Theaters
|
Lakeville, MN | (b) |
|
|
(
|
) |
|
|
|
|
(
|
) | 1998 | 7/29/2016 |
|
|||||||||||||||||||||||||||
|
Emagine Theaters
|
Rogers, MN | (b) |
|
|
|
|
|
|
|
(
|
) | 2006 | 7/29/2016 |
|
||||||||||||||||||||||||||||
|
Emagine Theaters
|
White Bear Township, MN | (b) |
|
|
|
|
|
|
|
(
|
) | 1995 | 7/29/2016 |
|
||||||||||||||||||||||||||||
|
Emagine Theaters
|
Monticello, MN | (b) |
|
|
|
|
|
|
|
(
|
) | 2004 | 7/29/2016 |
|
||||||||||||||||||||||||||||
|
Emagine Theaters
|
Plymouth, MN | (b) |
|
|
|
|
|
|
|
(
|
) | 1988 | 7/29/2016 |
|
||||||||||||||||||||||||||||
|
Emagine Theaters
|
Waconia, MN | (b) |
|
|
|
|
|
|
|
(
|
) | 1989 | 7/29/2016 |
|
||||||||||||||||||||||||||||
|
Emagine Theaters
|
East Bethel, MN | (b) |
|
|
|
|
|
|
|
(
|
) | 1990 | 7/29/2016 |
|
||||||||||||||||||||||||||||
|
Emagine Theaters
|
Delano, MN | (b) |
|
|
|
|
|
|
|
(
|
) | 1984 | 7/29/2016 |
|
||||||||||||||||||||||||||||
|
Emagine Theaters
|
Eagan, MN | (b) |
|
|
|
|
|
|
|
(
|
) | 1998 | 5/1/2019 |
|
||||||||||||||||||||||||||||
|
Emagine Theaters
|
Saginaw, MI | (b) |
|
|
|
|
|
|
|
(
|
) | 2013 | 11/25/2019 |
|
||||||||||||||||||||||||||||
|
Emagine Theaters
|
Batavia, IL | (b) |
|
|
|
|
|
|
|
(
|
) | 1995 | 11/25/2019 |
|
||||||||||||||||||||||||||||
|
Emagine Theaters
|
Noblesville, IN | (b) |
|
|
|
|
|
|
|
(
|
) | 2008 | 11/25/2019 |
|
||||||||||||||||||||||||||||
|
Emagine Theaters
|
Portage, IN | (b) |
|
|
|
|
|
|
|
(
|
) | 2007 | 11/25/2019 |
|
||||||||||||||||||||||||||||
|
Exceptional Health
|
Livingston, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 2014 | 3/30/2016 |
|
||||||||||||||||||||||||||||
|
Exceptional Health
|
Garland, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 2016 | 3/30/2016 |
|
||||||||||||||||||||||||||||
|
Exceptional Health
|
Harlingen, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 2016 | 12/1/2016 |
|
||||||||||||||||||||||||||||
|
Family Fare Supermarket
|
Omaha, NE | (b) |
|
|
|
|
|
|
|
(
|
) | 1982 | 12/17/2013 |
|
||||||||||||||||||||||||||||
|
Family Medical Center
|
Jacksonville, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 1977 | 8/18/2014 |
|
||||||||||||||||||||||||||||
|
Family Medical Center
|
Middleburg, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 1988 | 8/18/2014 |
|
||||||||||||||||||||||||||||
|
Fazoli’s
|
Blue Springs, MO | (b) |
|
|
|
(
|
) |
|
|
|
|
(e) | 8/27/2009 | (e) | ||||||||||||||||||||||||||||
|
Fazoli’s
|
Lees Summit, MO | (b) |
|
|
|
|
|
|
|
|
(e) | 11/25/2019 | (e) | |||||||||||||||||||||||||||||
|
Fazoli’s
|
Fort Wayne, IN | (b) |
|
|
|
|
|
|
|
(
|
) | 1982 | 11/25/2019 |
|
||||||||||||||||||||||||||||
|
FedEx
|
Peoria, IL | (b) |
|
|
|
|
|
|
|
(
|
) | 1996 | 7/17/2013 |
|
||||||||||||||||||||||||||||
|
Initial Cost to Company
|
Cost Capitalized Subsequent to
Acquisition including
impairment
|
Gross Amount at
December 31, 2020
(d)
|
||||||||||||||||||||||||||||||||||||||||
|
Concept
|
City, State
|
Encumbrances
(c)
|
Land and
Improvements
|
Buildings and
Improvements
|
Land and
Improvements
|
Buildings and
Improvements
|
Land and
Improvements
|
Buildings and
Improvements
|
Total
|
Final
Accumulated
Depreciation
|
Date of
Construction
|
Date
Acquired
|
Life in which
depreciation in
latest
Statement of
Operations is
computed
|
|||||||||||||||||||||||||||||
|
FedEx
|
Madison, AL | (a) |
|
|
|
|
|
|
|
(
|
) | 2008 | 7/17/2013 |
|
||||||||||||||||||||||||||||
|
FedEx
|
Baton Rouge, LA | (b) |
|
|
|
|
|
|
|
(
|
) | 2008 | 7/17/2013 |
|
||||||||||||||||||||||||||||
|
FedEx
|
Oak Park, MI | (b) |
|
|
|
|
|
|
|
(
|
) | 2016 | 6/26/2017 |
|
||||||||||||||||||||||||||||
|
FedEx
|
Anniston, AL | (b) |
|
|
|
|
|
|
|
(
|
) | 2014 | 9/25/2020 |
|
||||||||||||||||||||||||||||
|
FedEx
|
Pearl, MS | (b) |
|
|
|
|
|
|
|
(
|
) | 2017 | 9/29/2020 |
|
||||||||||||||||||||||||||||
|
Ferguson Enterprises
|
Shallotte, NC | (a) |
|
|
|
|
|
|
|
(
|
) | 2006 | 7/17/2013 |
|
||||||||||||||||||||||||||||
|
Ferguson Enterprises
|
Salisbury, MD | (b) |
|
|
|
|
|
|
|
(
|
) | 2007 | 7/17/2013 |
|
||||||||||||||||||||||||||||
|
Ferguson Enterprises
|
Powhatan, VA | (b) |
|
|
|
|
|
|
|
(
|
) | 2007 | 7/17/2013 |
|
||||||||||||||||||||||||||||
|
Ferguson Enterprises
|
Ocala, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 2006 | 7/17/2013 |
|
||||||||||||||||||||||||||||
|
Ferguson Enterprises
|
Front Royal, VA | (a) |
|
|
|
|
|
|
|
(
|
) | 2007 | 7/17/2013 |
|
||||||||||||||||||||||||||||
|
Ferguson Enterprises
|
Cohasset, MN | (a) |
|
|
|
|
|
|
|
(
|
) | 2007 | 7/17/2013 |
|
||||||||||||||||||||||||||||
|
Ferguson Enterprises
|
Auburn, AL | (a) |
|
|
|
|
|
|
|
(
|
) | 2007 | 7/17/2013 |
|
||||||||||||||||||||||||||||
|
FHE
|
Fruita, CO | (b) |
|
|
|
|
|
|
|
(
|
) | 2019 | 6/28/2019 |
|
||||||||||||||||||||||||||||
|
FHE
|
Fruita, CO | (b) |
|
|
|
|
|
|
|
(
|
) | 2007 | 6/28/2019 |
|
||||||||||||||||||||||||||||
|
Fiesta Mart (f)
|
Dallas, TX | (b) |
|
|
|
|
|
|
|
|
(e) | 7/17/2013 | (e) | |||||||||||||||||||||||||||||
|
Fire King
|
New Albany, IN | (b) |
|
|
|
|
|
|
|
(
|
) | 1977 | 12/20/2019 |
|
||||||||||||||||||||||||||||
|
Food City
|
Blairsville, GA | (b) |
|
|
|
|
|
|
|
(
|
) | 2001 | 9/30/2014 |
|
||||||||||||||||||||||||||||
|
Food City
|
Chattanooga, TN | (b) |
|
|
|
|
|
|
|
(
|
) | 1969 | 9/30/2014 |
|
||||||||||||||||||||||||||||
|
Food City
|
Dayton, TN | (b) |
|
|
|
|
|
|
|
(
|
) | 1999 | 9/30/2014 |
|
||||||||||||||||||||||||||||
|
Fox Rehabilitation Services
|
Cherry Hill, NJ | (b) |
|
|
|
|
|
|
|
(
|
) | 1998 | 11/23/2016 |
|
||||||||||||||||||||||||||||
|
Freddy’s Frozen Custard & Steakburgers
|
Sedalia, MO | (b) |
|
|
|
|
|
|
|
(
|
) | 2016 | 6/28/2019 |
|
||||||||||||||||||||||||||||
|
Fresenius Medical Care
|
Elizabethton, TN | (b) |
|
|
|
|
|
|
|
(
|
) | 2008 | 8/18/2014 |
|
||||||||||||||||||||||||||||
|
Fresenius Medical Care
|
Fairlea, WV | (b) |
|
|
|
|
|
|
|
(
|
) | 2009 | 8/18/2014 |
|
||||||||||||||||||||||||||||
|
Gardner School
|
Nashville, TN | (b) |
|
|
|
|
|
|
|
(
|
) | 1976 | 3/27/2015 |
|
||||||||||||||||||||||||||||
|
Georgia Theatre
|
Danville, VA | (b) |
|
|
|
|
|
|
|
(
|
) | 2002 | 12/30/2014 |
|
||||||||||||||||||||||||||||
|
Georgia Theatre
|
Hinesville, GA | (b) |
|
|
|
|
|
|
|
(
|
) | 2001 | 12/30/2014 |
|
||||||||||||||||||||||||||||
|
Georgia Theatre
|
Valdosta, GA | (b) |
|
|
|
|
|
|
|
(
|
) | 2001 | 12/30/2014 |
|
||||||||||||||||||||||||||||
|
Georgia Theatre
|
Warner Robins, GA | (b) |
|
|
|
|
|
|
|
(
|
) | 2010 | 12/30/2014 |
|
||||||||||||||||||||||||||||
|
Golden Corral
|
Albuquerque, NM | (b) |
|
|
|
|
|
|
|
(
|
) | 2011 | 7/17/2013 |
|
||||||||||||||||||||||||||||
|
Golden Corral
|
Decatur, AL | (b) |
|
|
|
|
|
|
|
(
|
) | 2004 | 7/17/2013 |
|
||||||||||||||||||||||||||||
|
Golden Corral
|
Florence, AL | (b) |
|
|
|
|
|
|
|
(
|
) | 1995 | 7/17/2013 |
|
||||||||||||||||||||||||||||
|
Golden Corral
|
Fort Smith, AR | (b) |
|
|
|
|
|
|
|
(
|
) | 1993 | 11/25/2019 |
|
||||||||||||||||||||||||||||
|
Golden Corral
|
Branson, MO | (b) |
|
|
|
|
|
|
|
(
|
) | 1994 | 11/25/2019 |
|
||||||||||||||||||||||||||||
|
Golden Corral
|
Springfield, MO | (b) |
|
|
|
|
|
|
|
(
|
) | 1993 | 11/25/2019 |
|
||||||||||||||||||||||||||||
|
Initial Cost to Company
|
Cost Capitalized Subsequent to
Acquisition including
impairment
|
Gross Amount at
December 31, 2020
(d)
|
||||||||||||||||||||||||||||||||||||||||
|
Concept
|
City, State
|
Encumbrances
(c)
|
Land and
Improvements
|
Buildings and
Improvements
|
Land and
Improvements
|
Buildings and
Improvements
|
Land and
Improvements
|
Buildings and
Improvements
|
Total
|
Final
Accumulated
Depreciation
|
Date of
Construction
|
Date
Acquired
|
Life in which
depreciation in
latest
Statement of
Operations is
computed
|
|||||||||||||||||||||||||||||
|
Golden Corral
|
North Little Rock, AR | (b) |
|
|
|
|
|
|
|
(
|
) | 1993 | 11/25/2019 |
|
||||||||||||||||||||||||||||
|
Gourmet Foods
|
Los Angeles, CA | (b) |
|
|
|
|
|
|
|
(
|
) | 1958 | 10/11/2019 |
|
||||||||||||||||||||||||||||
|
Gourmet Foods
|
Hayward, CA | (b) |
|
|
|
|
|
|
|
(
|
) | 1986 | 10/11/2019 |
|
||||||||||||||||||||||||||||
|
GQT Riverview 14 GDX
|
Gibsonton, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 2016 | 11/5/2015 |
|
||||||||||||||||||||||||||||
|
Grease Monkey
|
Moultrie, GA | (b) |
|
|
|
|
|
|
|
(
|
) | 1983 | 9/7/2007 |
|
||||||||||||||||||||||||||||
|
Grease Monkey
|
Spanish Fort, AL | (b) |
|
|
|
|
|
|
|
(
|
) | 1993 | 9/7/2007 |
|
||||||||||||||||||||||||||||
|
Grease Monkey
|
Montgomery, AL | (b) |
|
|
|
|
|
|
|
(
|
) | 1997 | 9/7/2007 |
|
||||||||||||||||||||||||||||
|
Grease Monkey
|
Pensacola, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 1994 | 9/7/2007 |
|
||||||||||||||||||||||||||||
|
Grease Monkey
|
Montgomery, AL | (b) |
|
|
|
|
|
|
|
(
|
) | 1996 | 9/7/2007 |
|
||||||||||||||||||||||||||||
|
Grease Monkey
|
Pensacola, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 1972 | 9/7/2007 |
|
||||||||||||||||||||||||||||
|
Grease Monkey
|
Marianna, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 1994 | 9/7/2007 |
|
||||||||||||||||||||||||||||
|
Grease Monkey
|
Albany, GA | (b) |
|
|
|
|
|
|
|
(
|
) | 1982 | 9/7/2007 |
|
||||||||||||||||||||||||||||
|
Grease Monkey
|
Pensacola, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 1968 | 9/7/2007 |
|
||||||||||||||||||||||||||||
|
Grease Monkey
|
Mobile, AL | (b) |
|
|
|
|
|
|
|
(
|
) | 1982 | 11/30/2007 |
|
||||||||||||||||||||||||||||
|
Grease Monkey
|
Albany, GA | (b) |
|
|
|
|
|
|
|
(
|
) | 1997 | 9/7/2007 |
|
||||||||||||||||||||||||||||
|
Grease Monkey
|
Gulf Breeze, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 1993 | 9/7/2007 |
|
||||||||||||||||||||||||||||
|
Grease Monkey
|
Valdosta, GA | (b) |
|
|
|
|
|
|
|
(
|
) | 1996 | 11/30/2007 |
|
||||||||||||||||||||||||||||
|
Grease Monkey
|
Montgomery, AL | (b) |
|
|
|
|
|
|
|
(
|
) | 1988 | 9/7/2007 |
|
||||||||||||||||||||||||||||
|
Grease Monkey
|
Pensacola, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 1983 | 9/7/2007 |
|
||||||||||||||||||||||||||||
|
Grease Monkey
|
Opelika, AL | (b) |
|
|
|
|
|
|
|
(
|
) | 1995 | 9/7/2007 |
|
||||||||||||||||||||||||||||
|
Grease Monkey
|
Auburn, AL | (b) |
|
|
|
|
|
|
|
(
|
) | 1995 | 9/7/2007 |
|
||||||||||||||||||||||||||||
|
Grease Monkey
|
Ocean Springs, MS | (b) |
|
|
|
|
|
|
|
(
|
) | 1988 | 7/17/2013 |
|
||||||||||||||||||||||||||||
|
Grease Monkey
|
Montgomery, AL | (b) |
|
|
|
|
|
|
|
(
|
) | 1997 | 9/7/2007 |
|
||||||||||||||||||||||||||||
|
Grease Monkey
|
Niceville, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 1996 | 9/7/2007 |
|
||||||||||||||||||||||||||||
|
Grease Monkey
|
Montgomery, AL | (b) |
|
|
|
|
|
|
|
(
|
) | 1992 | 9/7/2007 |
|
||||||||||||||||||||||||||||
|
Grease Monkey
|
Mobile, AL | (b) |
|
|
|
|
|
|
|
(
|
) | 1982 | 9/7/2007 |
|
||||||||||||||||||||||||||||
|
Grease Monkey
|
Dothan, AL | (b) |
|
|
|
|
|
|
|
(
|
) | 1996 | 9/7/2007 |
|
||||||||||||||||||||||||||||
|
Grease Monkey
|
Pensacola, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 1986 | 9/7/2007 |
|
||||||||||||||||||||||||||||
|
Grease Monkey
|
Crestview, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 1975 | 9/7/2007 |
|
||||||||||||||||||||||||||||
|
Grease Monkey
|
Panama City, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 1997 | 7/17/2013 |
|
||||||||||||||||||||||||||||
|
Grease Monkey
|
Milton, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 1986 | 9/7/2007 |
|
||||||||||||||||||||||||||||
|
Grease Monkey
|
Wetumpka, AL | (b) |
|
|
|
|
|
|
|
(
|
) | 1995 | 11/25/2019 |
|
||||||||||||||||||||||||||||
|
Grease Monkey
|
Waycross, GA | (b) |
|
|
|
|
|
|
|
(
|
) | 1998 | 11/25/2019 |
|
||||||||||||||||||||||||||||
|
H&E Equipment Services
|
Corpus Christi, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 2014 | 9/30/2014 |
|
||||||||||||||||||||||||||||
|
Hardee’s
|
Paxton, IL | (b) |
|
|
|
|
|
|
|
(
|
) | 1986 | 11/25/2019 |
|
||||||||||||||||||||||||||||
|
Hardee’s
|
Mayfield, KY | (b) |
|
|
|
|
|
|
|
(
|
) | 1986 | 11/25/2019 |
|
||||||||||||||||||||||||||||
|
Hardee’s
|
Kansas City, MO | (b) |
|
|
|
|
|
|
|
(
|
) | 1979 | 11/25/2019 |
|
||||||||||||||||||||||||||||
|
Initial Cost to Company
|
Cost Capitalized Subsequent to
Acquisition including
impairment
|
Gross Amount at
December 31, 2020
(d)
|
||||||||||||||||||||||||||||||||||||||||
|
Concept
|
City, State
|
Encumbrances
(c)
|
Land and
Improvements
|
Buildings and
Improvements
|
Land and
Improvements
|
Buildings and
Improvements
|
Land and
Improvements
|
Buildings and
Improvements
|
Total
|
Final
Accumulated
Depreciation
|
Date of
Construction
|
Date
Acquired
|
Life in which
depreciation in
latest
Statement of
Operations is
computed
|
|||||||||||||||||||||||||||||
|
Hardee’s
|
Kansas City, KS | (b) |
|
|
|
|
|
|
|
(
|
) | 1980 | 11/25/2019 |
|
||||||||||||||||||||||||||||
|
Hardee’s
|
Columbia, MO | (b) |
|
|
|
|
|
|
|
(
|
) | 1985 | 11/25/2019 |
|
||||||||||||||||||||||||||||
|
Hardee’s
|
Trenton, MO | (b) |
|
|
|
|
|
|
|
(
|
) | 1976 | 11/25/2019 |
|
||||||||||||||||||||||||||||
|
Hardee’s
|
Independence, MO | (b) |
|
|
|
|
|
|
|
(
|
) | 1979 | 11/25/2019 |
|
||||||||||||||||||||||||||||
|
Hardee’s
|
Emporia, KS | (b) |
|
|
|
|
|
|
|
(
|
) | 1969 | 11/25/2019 |
|
||||||||||||||||||||||||||||
|
Hardee’s
|
Lees Summit, MO | (b) |
|
|
|
|
|
|
|
(
|
) | 1985 | 11/25/2019 |
|
||||||||||||||||||||||||||||
|
Hardee’s
|
Harrisonville, MO | (b) |
|
|
(
|
) |
(
|
) |
|
|
|
(
|
) | 1981 | 11/25/2019 |
|
||||||||||||||||||||||||||
|
Hardee’s
|
Rolla, MO | (b) |
|
|
|
|
|
|
|
(
|
) | 1978 | 11/25/2019 |
|
||||||||||||||||||||||||||||
|
Hardee’s
|
Johnson City, TN | (b) |
|
|
|
|
|
|
|
(
|
) | 1983 | 12/21/2012 |
|
||||||||||||||||||||||||||||
|
Hardee’s
|
Buckhannon, WV | (b) |
|
|
|
|
|
|
|
(
|
) | 1978 | 12/21/2012 |
|
||||||||||||||||||||||||||||
|
Hardee’s
|
Bristol, VA | (b) |
|
|
|
|
|
|
|
(
|
) | 1991 | 12/21/2012 |
|
||||||||||||||||||||||||||||
|
Hardee’s
|
Mount Carmel, TN | (b) |
|
|
|
|
|
|
|
(
|
) | 1988 | 12/21/2012 |
|
||||||||||||||||||||||||||||
|
Hardee’s
|
Waynesburg, PA | (b) |
|
|
|
|
|
|
|
(
|
) | 1982 | 12/21/2012 |
|
||||||||||||||||||||||||||||
|
Hardee’s
|
Bristol, VA | (b) |
|
|
|
|
|
|
|
(
|
) | 1982 | 12/21/2012 |
|
||||||||||||||||||||||||||||
|
Hardee’s
|
Rogersville, TN | (b) |
|
|
|
|
|
|
|
(
|
) | 1986 | 12/21/2012 |
|
||||||||||||||||||||||||||||
|
Hardee’s
|
South Charleston, WV | (b) |
|
|
|
|
|
|
|
(
|
) | 1993 | 12/21/2012 |
|
||||||||||||||||||||||||||||
|
Hardee’s
|
So. Parkersburg, WV | (b) |
|
|
|
|
|
|
|
(
|
) | 1986 | 12/21/2012 |
|
||||||||||||||||||||||||||||
|
Hardee’s
|
Weston, WV | (b) |
|
|
|
|
|
|
|
(
|
) | 1981 | 12/21/2012 |
|
||||||||||||||||||||||||||||
|
Hardee’s
|
Kingwood, WV | (b) |
|
|
|
|
|
|
|
(
|
) | 1979 | 12/21/2012 |
|
||||||||||||||||||||||||||||
|
Hardee’s
|
Kingsport, TN | (b) |
|
|
|
|
|
|
|
(
|
) | 1992 | 12/21/2012 |
|
||||||||||||||||||||||||||||
|
Hardee’s
|
Bristol, TN | (b) |
|
|
|
|
|
|
|
(
|
) | 1985 | 12/21/2012 |
|
||||||||||||||||||||||||||||
|
Hardee’s
|
Elizabethton, TN | (b) |
|
|
|
|
|
|
|
(
|
) | 1971 | 12/21/2012 |
|
||||||||||||||||||||||||||||
|
Hardee’s
|
Jonesborough, TN | (b) |
|
|
|
|
|
|
|
(
|
) | 1987 | 12/21/2012 |
|
||||||||||||||||||||||||||||
|
Hardee’s
|
Parkersburg, WV | (b) |
|
|
|
|
|
|
|
(
|
) | 1999 | 12/21/2012 |
|
||||||||||||||||||||||||||||
|
Hardee’s
|
Philippi, WV | (b) |
|
|
|
|
|
|
|
(
|
) | 1986 | 12/21/2012 |
|
||||||||||||||||||||||||||||
|
Hardee’s
|
Normal, IL | (b) |
|
|
|
|
|
|
|
(
|
) | 1980 | 12/21/2012 |
|
||||||||||||||||||||||||||||
|
Hardee’s
|
Peoria, IL | (b) |
|
|
|
|
|
|
|
(
|
) | 1980 | 12/21/2012 |
|
||||||||||||||||||||||||||||
|
Hardee’s
|
Peoria, IL | (b) |
|
|
|
|
|
|
|
(
|
) | 1980 | 12/21/2012 |
|
||||||||||||||||||||||||||||
|
Hardee’s
|
Havana, IL | (b) |
|
|
|
|
|
|
|
(
|
) | 1980 | 12/21/2012 |
|
||||||||||||||||||||||||||||
|
Hardee’s
|
Eureka, IL | (b) |
|
|
|
|
|
|
|
(
|
) | 1980 | 12/21/2012 |
|
||||||||||||||||||||||||||||
|
Hardee’s
|
Fort Madison, IA | (b) |
|
|
|
|
|
|
|
(
|
) | 1980 | 12/21/2012 |
|
||||||||||||||||||||||||||||
|
Hardee’s
|
Washington, IL | (b) |
|
|
|
|
|
|
|
(
|
) | 1980 | 12/21/2012 |
|
||||||||||||||||||||||||||||
|
Hardee’s
|
Bartonville, IL | (b) |
|
|
|
|
|
|
|
(
|
) | 1980 | 12/21/2012 |
|
||||||||||||||||||||||||||||
|
Hartford Provision Company
|
South Windsor, CT | (b) |
|
|
|
|
|
|
|
(
|
) | 1982 | 5/5/2015 |
|
||||||||||||||||||||||||||||
|
Hatch Stamping
|
Chelsea, MI | (b) |
|
|
|
|
|
|
|
(
|
) | 1975 | 6/17/2019 |
|
||||||||||||||||||||||||||||
|
Hatch Stamping
|
Spring Arbor, MI | (b) |
|
|
|
|
|
|
|
(
|
) | 2001 | 6/17/2019 |
|
||||||||||||||||||||||||||||
|
Hatch Stamping
|
Chelsea, MI | (b) |
|
|
|
|
|
|
|
(
|
) | 1990 | 6/17/2019 |
|
||||||||||||||||||||||||||||
|
Initial Cost to Company
|
Cost Capitalized Subsequent to
Acquisition including
impairment
|
Gross Amount at
December 31, 2020
(d)
|
||||||||||||||||||||||||||||||||||||||||
|
Concept
|
City, State
|
Encumbrances
(c)
|
Land and
Improvements
|
Buildings and
Improvements
|
Land and
Improvements
|
Buildings and
Improvements
|
Land and
Improvements
|
Buildings and
Improvements
|
Total
|
Final
Accumulated
Depreciation
|
Date of
Construction
|
Date
Acquired
|
Life in which
depreciation in
latest
Statement of
Operations is
computed
|
|||||||||||||||||||||||||||||
|
Havana Farm and Home Supply
|
Havana, IL | (b) |
|
|
|
|
|
|
|
(
|
) | 2000 | 5/31/2006 |
|
||||||||||||||||||||||||||||
|
Health Point Family Medicine
|
Franklin, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 2012 | 8/18/2014 |
|
||||||||||||||||||||||||||||
|
Hobby Lobby (f)
|
Douglasville, GA | (b) |
|
|
|
|
|
|
|
(
|
) | 2006 | 7/17/2013 |
|
||||||||||||||||||||||||||||
|
Home Depot
|
Lakewood, CO | (a) |
|
|
|
|
|
|
|
|
(e) | 7/17/2013 | (e) | |||||||||||||||||||||||||||||
|
Home Depot
|
Colma, CA | (b) |
|
|
|
|
|
|
|
(
|
) | 1995 | 7/17/2013 |
|
||||||||||||||||||||||||||||
|
Home Depot
|
Memphis, TN | (b) |
|
|
|
|
|
|
|
(
|
) | 1996 | 2/28/2017 |
|
||||||||||||||||||||||||||||
|
Home Depot
|
Highland Heights, OH | (b) |
|
|
|
|
|
|
|
(
|
) | 1995 | 2/21/2017 |
|
||||||||||||||||||||||||||||
|
Home Depot
|
Tempe, AZ | (b) |
|
|
|
|
|
|
|
(
|
) | 1978 | 5/12/2017 |
|
||||||||||||||||||||||||||||
|
Home Depot
|
Broadview, IL | (b) |
|
|
|
|
|
|
|
(
|
) | 1994 | 7/17/2013 |
t
o
|
||||||||||||||||||||||||||||
|
Home Depot (f)
|
Bedford Park, IL | (a) |
|
|
|
|
|
|
|
(
|
) | 1993 | 7/17/2013 |
|
||||||||||||||||||||||||||||
|
Hy-Vee Food Store (f)
|
Bethany, MO | (b) |
|
|
|
|
|
|
|
(
|
) | 1974 | 5/31/2006 |
|
||||||||||||||||||||||||||||
|
IBM
|
Greece, NY | (b) |
|
|
|
(
|
) |
|
|
|
(
|
) | 1989 | 8/2/2017 |
|
|||||||||||||||||||||||||||
|
IBM
|
Columbus, OH | (b) |
|
|
|
|
|
|
|
(
|
) | 1989 | 8/2/2017 |
|
||||||||||||||||||||||||||||
|
In-Shape
|
Manteca, CA | (b) |
|
|
|
|
|
|
|
(
|
) | 2001 | 9/4/2015 |
|
||||||||||||||||||||||||||||
|
In-Shape
|
Modesto, CA | (b) |
|
|
|
|
|
|
|
(
|
) | 1964 | 12/5/2014 |
|
||||||||||||||||||||||||||||
|
Insurance Auto Auction
|
Fargo, ND | (b) |
|
|
|
|
|
|
|
(
|
) | 2012 | 9/11/2018 |
|
||||||||||||||||||||||||||||
|
Insurance Auto Auction
|
Springfield, NE | (b) |
|
|
|
|
|
|
|
(
|
) | 2012 | 3/5/2020 |
|
||||||||||||||||||||||||||||
|
Insurance Auto Auction
|
Lennox, SD | (b) |
|
|
|
|
|
|
|
(
|
) | 2020 | 11/30/2020 |
|
||||||||||||||||||||||||||||
|
Interstate Resources
|
New Castle, PA | (b) |
|
|
|
|
|
|
|
(
|
) | 1999 | 7/17/2013 |
|
||||||||||||||||||||||||||||
|
J. Jill
|
Tilton, NH | (a) |
|
|
|
|
|
|
|
(
|
) | 1998 | 7/17/2013 |
|
||||||||||||||||||||||||||||
|
Jiffy Lube
|
Sarasota, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 1987 | 3/19/2013 |
|
||||||||||||||||||||||||||||
|
Jiffy Lube
|
Largo, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 1989 | 3/19/2013 |
|
||||||||||||||||||||||||||||
|
Jiffy Lube
|
Bonita Springs, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 1990 | 3/19/2013 |
|
||||||||||||||||||||||||||||
|
Jiffy Lube
|
Clearwater, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 1989 | 3/19/2013 |
|
||||||||||||||||||||||||||||
|
Jiffy Lube
|
Naples, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 1990 | 3/19/2013 |
|
||||||||||||||||||||||||||||
|
Jiffy Lube
|
Sarasota, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 1987 | 3/19/2013 |
|
||||||||||||||||||||||||||||
|
Jiffy Lube
|
Bradenton, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 1988 | 3/19/2013 |
|
||||||||||||||||||||||||||||
|
Jiffy Lube
|
Fort Myers, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 1990 | 3/19/2013 |
|
||||||||||||||||||||||||||||
|
Jo-Ann’s
|
Reading, PA | (b) |
|
|
|
|
|
|
|
(
|
) | 1998 | 7/17/2013 |
|
||||||||||||||||||||||||||||
|
Jo-Ann’s
|
Alpharetta, GA | (b) |
|
|
|
|
|
|
|
(
|
) | 2000 | 7/17/2013 |
|
||||||||||||||||||||||||||||
|
Jo-Ann’s (f)
|
Independence, MO | (a) |
|
|
|
|
|
|
|
(
|
) | 1999 | 7/17/2013 |
|
||||||||||||||||||||||||||||
|
Joe’s Crab Shack
|
Colorado Springs, CO | (b) |
|
|
|
|
|
|
|
(
|
) | 1989 | 11/25/2019 |
|
||||||||||||||||||||||||||||
|
KFC
|
Milan, IL | (b) |
|
|
|
|
|
|
|
(
|
) | 1997 | 10/3/2011 |
|
||||||||||||||||||||||||||||
|
KFC
|
Davenport, IA | (b) |
|
|
|
|
|
|
|
(
|
) | 2002 | 10/3/2011 |
|
||||||||||||||||||||||||||||
|
KFC
|
Independence, MO | (b) |
|
|
|
|
|
|
|
(
|
) | 1984 | 10/3/2011 |
|
||||||||||||||||||||||||||||
|
KFC
|
Kansas City, KS | (b) |
|
|
|
|
|
|
|
(
|
) | 1999 | 10/3/2011 |
|
||||||||||||||||||||||||||||
|
KFC
|
La Vista, NE | (b) |
|
|
|
|
|
|
|
(
|
) | 1992 | 10/3/2011 |
|
||||||||||||||||||||||||||||
|
Initial Cost to Company
|
Cost Capitalized Subsequent to
Acquisition including
impairment
|
Gross Amount at
December 31, 2020
(d)
|
||||||||||||||||||||||||||||||||||||||||
|
Concept
|
City, State
|
Encumbrances
(c)
|
Land and
Improvements
|
Buildings and
Improvements
|
Land and
Improvements
|
Buildings and
Improvements
|
Land and
Improvements
|
Buildings and
Improvements
|
Total
|
Final
Accumulated
Depreciation
|
Date of
Construction
|
Date
Acquired
|
Life in which
depreciation in
latest
Statement of
Operations is
computed
|
|||||||||||||||||||||||||||||
|
KFC
|
Calhoun, GA | (b) |
|
|
|
|
|
|
|
(
|
) | 1988 | 2/2/2012 |
|
||||||||||||||||||||||||||||
|
KFC
|
Covington, GA | (b) |
|
|
|
|
|
|
|
(
|
) | 2001 | 2/2/2012 |
|
||||||||||||||||||||||||||||
|
KFC
|
Decatur, GA | (b) |
|
|
|
|
|
|
|
(
|
) | 1989 | 2/2/2012 |
|
||||||||||||||||||||||||||||
|
KFC
|
Hampton, GA | (b) |
|
|
|
|
|
|
|
(
|
) | 2002 | 2/2/2012 |
|
||||||||||||||||||||||||||||
|
KFC
|
Jackson, GA | (b) |
|
|
|
|
|
|
|
(
|
) | 1992 | 2/2/2012 |
|
||||||||||||||||||||||||||||
|
KFC
|
Morrow, GA | (b) |
|
|
|
|
|
|
|
(
|
) | 2006 | 2/2/2012 |
|
||||||||||||||||||||||||||||
|
KFC
|
Stockbridge, GA | (b) |
|
|
|
|
|
|
|
(
|
) | 2001 | 2/2/2012 |
|
||||||||||||||||||||||||||||
|
KFC
|
Stone Mountain, GA | (b) |
|
|
|
|
|
|
|
(
|
) | 1986 | 2/2/2012 |
|
||||||||||||||||||||||||||||
|
KFC
|
Roswell, GA | (b) |
|
|
|
|
|
|
|
(
|
) | 2006 | 11/25/2019 |
|
||||||||||||||||||||||||||||
|
KFC
|
Kingston, PA | (b) |
|
|
|
|
|
|
|
(
|
) | 1978 | 11/18/2014 |
|
||||||||||||||||||||||||||||
|
KFC
|
Bloomsburg, PA | (b) |
|
|
|
|
|
|
|
(
|
) | 1993 | 11/18/2014 |
|
||||||||||||||||||||||||||||
|
KFC
|
Williamsport, PA | (b) |
|
|
|
|
|
|
|
(
|
) | 1966 | 11/18/2014 |
|
||||||||||||||||||||||||||||
|
KFC
|
O’Fallon, MO | (b) |
|
|
|
(
|
) |
|
|
|
|
2016 | 12/23/2020 |
|
||||||||||||||||||||||||||||
|
King’s Daughters Medical Center
|
Grayson, KY | (b) |
|
|
|
|
|
|
|
(
|
) | 2013 | 8/18/2014 |
|
||||||||||||||||||||||||||||
|
Kiolbassa
|
San Antonio, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 2004 | 5/7/2020 |
|
||||||||||||||||||||||||||||
|
Kiolbassa
|
San Antonio, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 2007 | 5/7/2020 |
|
||||||||||||||||||||||||||||
|
Kohl’s
|
Wichita, KS | (b) |
|
|
|
|
|
|
|
(
|
) | 1996 | 7/17/2013 |
|
||||||||||||||||||||||||||||
|
Kohl’s
|
Lake Zurich, IL | (b) |
|
|
|
|
|
|
|
(
|
) | 2000 | 7/17/2013 |
|
||||||||||||||||||||||||||||
|
Kohl’s
|
Grand Forks, ND | (b) |
|
|
|
|
|
|
|
(
|
) | 2006 | 7/17/2013 |
|
||||||||||||||||||||||||||||
|
Kohl’s
|
Tilton, NH | (b) |
|
|
|
|
|
|
|
|
(e) | 7/17/2013 | (e) | |||||||||||||||||||||||||||||
|
Kohl’s
|
Olathe, KS | (b) |
|
|
|
|
|
|
|
(
|
) | 1995 | 7/17/2013 |
|
||||||||||||||||||||||||||||
|
Kohl’s
|
Sherwood, AR | (b) |
|
|
|
|
|
|
|
(
|
) | 2003 | 2/23/2015 |
|
||||||||||||||||||||||||||||
|
Kohl’s
|
Gilbert, AZ | (b) |
|
|
|
|
|
|
|
(
|
) | 2004 | 8/6/2018 |
|
||||||||||||||||||||||||||||
|
Kohl’s
|
Findlay, OH | (b) |
|
|
|
|
|
|
|
(
|
) | 1995 | 6/19/2019 |
|
||||||||||||||||||||||||||||
|
Kohl’s
|
Noblesville, IN | (b) |
|
|
|
|
|
|
|
(
|
) | 2002 | 9/20/2019 |
|
||||||||||||||||||||||||||||
|
Kohl’s
|
Chillicothe, OH | (b) |
|
|
|
|
|
|
|
(
|
) | 2002 | 9/20/2019 |
|
||||||||||||||||||||||||||||
|
Kohl’s
|
Dayton, OH | (b) |
|
|
|
|
|
|
|
(
|
) | 1994 | 9/20/2019 |
|
||||||||||||||||||||||||||||
|
Kohl’s
|
Lansing, MI | (b) |
|
|
|
|
|
|
|
|
1999 | 12/18/2020 |
|
|||||||||||||||||||||||||||||
|
Kroger
|
LaGrange, GA | (a) |
|
|
|
|
|
|
|
(
|
) | 1998 | 7/17/2013 |
|
||||||||||||||||||||||||||||
|
LA Fitness
|
Brooklyn Park, MN | (b) |
|
|
|
|
|
|
|
(
|
) | 2008 | 7/17/2013 |
|
||||||||||||||||||||||||||||
|
LA Fitness
|
Matteson, IL | (b) |
|
|
|
|
|
|
|
(
|
) | 2007 | 7/17/2013 |
|
||||||||||||||||||||||||||||
|
LA Fitness
|
Greenwood, IN | (a) |
|
|
|
|
|
|
|
(
|
) | 2007 | 7/17/2013 |
|
||||||||||||||||||||||||||||
|
LA Fitness
|
League City, TX | (a) |
|
|
|
|
|
|
|
(
|
) | 2008 | 7/17/2013 |
|
||||||||||||||||||||||||||||
|
LA Fitness
|
Naperville, IL | (a) |
|
|
|
|
|
|
|
(
|
) | 2007 | 7/17/2013 |
|
||||||||||||||||||||||||||||
|
LA Fitness
|
West Chester, OH | (b) |
|
|
|
|
|
|
|
(
|
) | 2009 | 7/17/2013 |
|
||||||||||||||||||||||||||||
|
LA Fitness
|
Fort Washington, PA | (b) |
|
|
|
|
|
|
|
(
|
) | 2003 | 6/26/2019 |
|
||||||||||||||||||||||||||||
|
LA Fitness
|
Clinton Township, MI | (b) |
|
|
|
|
|
|
|
(
|
) | 1999 | 11/25/2019 |
|
||||||||||||||||||||||||||||
|
Initial Cost to Company
|
Cost Capitalized Subsequent to
Acquisition including
impairment
|
Gross Amount at
December 31, 2020
(d)
|
||||||||||||||||||||||||||||||||||||||||
|
Concept
|
City, State
|
Encumbrances
(c)
|
Land and
Improvements
|
Buildings and
Improvements
|
Land and
Improvements
|
Buildings and
Improvements
|
Land and
Improvements
|
Buildings and
Improvements
|
Total
|
Final
Accumulated
Depreciation
|
Date of
Construction
|
Date
Acquired
|
Life in which
depreciation in
latest
Statement of
Operations is
computed
|
|||||||||||||||||||||||||||||
|
Lamb’s/Ramona Tire
|
Hemet, CA | (b) |
|
|
|
|
|
|
|
(
|
) | 1975 | 9/27/2019 |
|
||||||||||||||||||||||||||||
|
Lamb’s/Ramona Tire
|
Austin, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 2009 | 9/27/2019 |
|
||||||||||||||||||||||||||||
|
Lamb’s/Ramona Tire
|
San Marcos, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 2012 | 9/27/2019 |
|
||||||||||||||||||||||||||||
|
Lamb’s/Ramona Tire
|
Moreno Valley, CA | (b) |
|
|
|
|
|
|
|
(
|
) | 1987 | 9/27/2019 |
|
||||||||||||||||||||||||||||
|
Lamb’s/Ramona Tire
|
Austin, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 2006 | 9/27/2019 |
|
||||||||||||||||||||||||||||
|
Lamb’s/Ramona Tire
|
Round Rock, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 2010 | 9/27/2019 |
|
||||||||||||||||||||||||||||
|
La-Z-Boy
|
Glendale, AZ | (b) |
|
|
|
|
|
|
|
(
|
) | 2001 | 7/17/2013 |
|
||||||||||||||||||||||||||||
|
La-Z-Boy
|
Newington, CT | (b) |
|
|
|
|
|
|
|
(
|
) | 2006 | 7/17/2013 |
|
||||||||||||||||||||||||||||
|
La-Z-Boy
|
Kentwood, MI | (b) |
|
|
|
|
|
|
|
(
|
) | 1987 | 7/17/2013 |
|
||||||||||||||||||||||||||||
|
Lee’s Famous Recipe Chicken
|
Xenia, OH | (b) |
|
|
|
|
|
|
|
(
|
) | 1985 | 8/21/2015 |
|
||||||||||||||||||||||||||||
|
Lee’s Famous Recipe Chicken
|
Dayton, OH | (b) |
|
|
|
|
|
|
|
(
|
) | 1984 | 8/21/2015 |
|
||||||||||||||||||||||||||||
|
Lee’s Famous Recipe Chicken
|
Miamisburg, OH | (b) |
|
|
|
|
|
|
|
(
|
) | 1970 | 8/21/2015 |
|
||||||||||||||||||||||||||||
|
Lee’s Famous Recipe Chicken
|
Englewood, OH | (b) |
|
|
|
|
|
|
|
(
|
) | 1988 | 8/21/2015 |
|
||||||||||||||||||||||||||||
|
Lee’s Famous Recipe Chicken
|
Trotwood, OH | (b) |
|
|
|
|
|
|
|
(
|
) | 1971 | 8/21/2015 |
|
||||||||||||||||||||||||||||
|
Liberty Oilfield Services
|
Gillette, WY | (b) |
|
|
|
|
|
|
|
(
|
) | 2001 | 12/30/2014 |
|
||||||||||||||||||||||||||||
|
Liberty Oilfield Services
|
Henderson, CO | (b) |
|
|
|
|
|
|
|
(
|
) | 1977 | 12/30/2014 |
|
||||||||||||||||||||||||||||
|
Life Time Fitness
|
Reston, VA | (b) |
|
|
|
|
|
|
|
(
|
) | 2003 | 8/30/2018 |
|
||||||||||||||||||||||||||||
|
Life Time Fitness
|
Mansfield, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 2008 | 8/30/2018 |
|
||||||||||||||||||||||||||||
|
Life Time Fitness
|
Canton, MI | (b) |
|
|
|
|
|
|
|
(
|
) | 2002 | 8/30/2018 |
|
||||||||||||||||||||||||||||
|
Life Time Fitness
|
Collierville, TN | (b) |
|
|
|
|
|
|
|
(
|
) | 2009 | 8/30/2018 |
|
||||||||||||||||||||||||||||
|
Life Time Fitness
|
Deerfield Township, OH | (b) |
|
|
|
|
|
|
|
(
|
) | 2007 | 8/30/2018 |
|
||||||||||||||||||||||||||||
|
Life Time Fitness
|
St. Louis, MO | (b) |
|
|
|
|
|
|
|
|
2019 | 12/17/2020 |
|
|||||||||||||||||||||||||||||
|
Life Time Fitness
|
Northbrook, IL | (b) |
|
|
|
|
|
|
|
|
2019 | 12/17/2020 |
|
|||||||||||||||||||||||||||||
|
Logan’s Roadhouse
|
Johnson City, TN | (b) |
|
|
(
|
) |
(
|
) |
|
|
|
(
|
) | 1996 | 7/17/2013 |
|
||||||||||||||||||||||||||
|
Logan’s Roadhouse
|
Trussville, AL | (a) |
|
|
(
|
) |
(
|
) |
|
|
|
(
|
) | 2007 | 7/17/2013 |
|
||||||||||||||||||||||||||
|
Long John Silver’s / A&W
|
Houston, TX | (b) |
|
|
|
|
|
|
|
|
(e) | 7/17/2013 | (e) | |||||||||||||||||||||||||||||
|
Lowe’s
|
Midland, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 1996 | 7/17/2013 |
|
||||||||||||||||||||||||||||
|
Lowe’s
|
Lubbock, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 1996 | 7/17/2013 |
|
||||||||||||||||||||||||||||
|
Lowe’s
|
Cincinnati, OH | (b) |
|
|
|
|
|
|
|
(
|
) | 1998 | 7/17/2013 |
|
||||||||||||||||||||||||||||
|
Lowe’s
|
Chester, NY | (b) |
|
|
|
|
|
|
|
|
(e) | 7/17/2013 | (e) | |||||||||||||||||||||||||||||
|
Lowe’s
|
Tilton, NH | (b) |
|
|
|
|
|
|
|
|
(e) | 7/17/2013 | (e) | |||||||||||||||||||||||||||||
|
Lutheran Health Physicians
|
Warren, IN | (b) |
|
|
|
|
|
|
|
(
|
) | 2007 | 8/18/2014 |
|
||||||||||||||||||||||||||||
|
MAACO
|
Phoenix, AZ | (b) |
|
|
|
|
|
|
|
(
|
) | 1989 | 3/31/2017 |
|
||||||||||||||||||||||||||||
|
MAACO
|
Houston, TX | (b) |
|
|
(
|
) |
(
|
) |
|
|
|
(
|
) | 1950 | 3/31/2017 |
|
||||||||||||||||||||||||||
|
MAACO
|
Tuscon, AZ | (b) |
|
|
|
|
|
|
|
(
|
) | 1999 | 3/31/2017 |
|
||||||||||||||||||||||||||||
|
Mac Papers
|
Jacksonville, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 1990 | 3/12/2020 |
|
||||||||||||||||||||||||||||
|
Mac Papers
|
Jacksonville, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 1956 | 3/12/2020 |
|
||||||||||||||||||||||||||||
|
Initial Cost to Company
|
Cost Capitalized Subsequent to
Acquisition including
impairment
|
Gross Amount at
December 31, 2020
(d)
|
||||||||||||||||||||||||||||||||||||||||
|
Concept
|
City, State
|
Encumbrances
(c)
|
Land and
Improvements
|
Buildings and
Improvements
|
Land and
Improvements
|
Buildings and
Improvements
|
Land and
Improvements
|
Buildings and
Improvements
|
Total
|
Final
Accumulated
Depreciation
|
Date of
Construction
|
Date
Acquired
|
Life in which
depreciation in
latest
Statement of
Operations is
computed
|
|||||||||||||||||||||||||||||
|
Mac Papers
|
Jacksonville, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 1970 | 3/12/2020 |
|
||||||||||||||||||||||||||||
|
Mac Papers
|
Miami, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 1998 | 3/12/2020 |
|
||||||||||||||||||||||||||||
|
Mac Papers
|
Midway, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 1999 | 3/12/2020 |
|
||||||||||||||||||||||||||||
|
Mac Papers
|
Orlando, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 1999 | 3/12/2020 |
|
||||||||||||||||||||||||||||
|
Mac Papers
|
Riviera Beach, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 1994 | 3/12/2020 |
|
||||||||||||||||||||||||||||
|
Mac Papers
|
Tampa, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 2009 | 3/12/2020 |
|
||||||||||||||||||||||||||||
|
Mac Papers
|
Lithia Springs, GA | (b) |
|
|
|
|
|
|
|
(
|
) | 2007 | 3/12/2020 |
|
||||||||||||||||||||||||||||
|
Mac Papers
|
Harahan, LA | (b) |
|
|
|
|
|
|
|
(
|
) | 1971 | 3/12/2020 |
|
||||||||||||||||||||||||||||
|
Mac Papers
|
Durham, NC | (b) |
|
|
|
|
|
|
|
(
|
) | 2004 | 3/12/2020 |
|
||||||||||||||||||||||||||||
|
Mac Papers
|
Antioch, TN | (b) |
|
|
|
|
|
|
|
(
|
) | 2016 | 3/12/2020 |
|
||||||||||||||||||||||||||||
|
Mac Papers
|
Chattanooga, TN | (b) |
|
|
|
|
|
|
|
(
|
) | 2000 | 3/12/2020 |
|
||||||||||||||||||||||||||||
|
Mac Papers
|
Memphis, TN | (b) |
|
|
|
|
|
|
|
(
|
) | 2003 | 3/12/2020 |
|
||||||||||||||||||||||||||||
|
Mac Papers
|
Arden, NC | (b) |
|
|
|
|
|
|
|
(
|
) | 1999 | 8/7/2020 |
|
||||||||||||||||||||||||||||
|
Mac Papers
|
Greenville, SC | (b) |
|
|
|
|
|
|
|
(
|
) | 1998 | 8/7/2020 |
|
||||||||||||||||||||||||||||
|
Mac Papers
|
Charlotte, NC | (b) |
|
|
|
|
|
|
|
(
|
) | 1986 | 8/7/2020 |
|
||||||||||||||||||||||||||||
|
Mac Papers
|
West Columbia, SC | (b) |
|
|
|
|
|
|
|
(
|
) | 1986 | 8/7/2020 |
|
||||||||||||||||||||||||||||
|
Main Event
|
Fort Worth, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 2003 | 9/30/2005 |
|
||||||||||||||||||||||||||||
|
Main Event
|
Shenandoah, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 2004 | 9/30/2005 |
|
||||||||||||||||||||||||||||
|
Main Event
|
Austin, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 2005 | 9/30/2005 |
|
||||||||||||||||||||||||||||
|
Main Event
|
Lewisville, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 1998 | 9/30/2005 |
|
||||||||||||||||||||||||||||
|
Main Event
|
Grapevine, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 2000 | 9/30/2005 |
|
||||||||||||||||||||||||||||
|
Main Event
|
Plano, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 2001 | 9/30/2005 |
|
||||||||||||||||||||||||||||
|
Main Event
|
Grand Prairie, TX | (b) |
|
|
|
|
|
|
|
(
|
) | (h) | 3/11/2019 | (h) | ||||||||||||||||||||||||||||
|
Main Event
|
Lutz, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 2019 | 7/18/2019 |
|
||||||||||||||||||||||||||||
|
Malibu Boats
|
Merced, CA | (b) |
|
|
|
|
|
|
|
(
|
) | 1998 | 3/31/2008 |
|
||||||||||||||||||||||||||||
|
Malibu Boats
|
Loudon, TN | (b) |
|
|
|
|
|
|
|
(
|
) | 1992 | 3/31/2008 |
|
||||||||||||||||||||||||||||
|
Market Street
|
Amarillo, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 1999 | 5/23/2005 |
|
||||||||||||||||||||||||||||
|
Market Street
|
Wichita Falls, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 1997 | 5/23/2005 |
|
||||||||||||||||||||||||||||
|
Mattress Firm
|
Columbia, SC | (b) |
|
|
|
|
|
|
|
(
|
) | 1998 | 7/17/2013 |
|
||||||||||||||||||||||||||||
|
Michael’s (f)
|
Collierville, TN | (b) |
|
|
|
|
|
|
|
(
|
) | 2002 | 7/17/2013 |
|
||||||||||||||||||||||||||||
|
Milo’s
|
Gardendale, AL | (b) |
|
|
|
|
|
|
|
(
|
) | 1996 | 3/29/2013 |
|
||||||||||||||||||||||||||||
|
Milo’s
|
Bessemer, AL | (b) |
|
|
|
|
|
|
|
(
|
) | 2002 | 3/29/2013 |
|
||||||||||||||||||||||||||||
|
Milo’s
|
Birmingham, AL | (b) |
|
|
|
|
|
|
|
(
|
) | 2002 | 3/29/2013 |
|
||||||||||||||||||||||||||||
|
Milo’s
|
Birmingham, AL | (b) |
|
|
|
|
|
|
|
(
|
) | 1977 | 3/29/2013 |
|
||||||||||||||||||||||||||||
|
Milo’s
|
Moody, AL | (b) |
|
|
|
|
|
|
|
(
|
) | 1997 | 3/29/2013 |
|
||||||||||||||||||||||||||||
|
Milo’s
|
Pelham, AL | (b) |
|
|
|
|
|
|
|
(
|
) | 1998 | 3/29/2013 |
|
||||||||||||||||||||||||||||
|
Milo’s
|
Trussville, AL | (b) |
|
|
|
|
|
|
|
(
|
) | 2000 | 3/29/2013 |
|
||||||||||||||||||||||||||||
|
Initial Cost to Company
|
Cost Capitalized Subsequent to
Acquisition including
impairment
|
Gross Amount at
December 31, 2020
(d)
|
||||||||||||||||||||||||||||||||||||||||
|
Concept
|
City, State
|
Encumbrances
(c)
|
Land and
Improvements
|
Buildings and
Improvements
|
Land and
Improvements
|
Buildings and
Improvements
|
Land and
Improvements
|
Buildings and
Improvements
|
Total
|
Final
Accumulated
Depreciation
|
Date of
Construction
|
Date
Acquired
|
Life in which
depreciation in
latest
Statement of
Operations is
computed
|
|||||||||||||||||||||||||||||
|
Milo’s
|
Calera, AL | (b) |
|
|
|
|
|
|
|
(
|
) | 2008 | 3/29/2013 |
|
||||||||||||||||||||||||||||
|
Milo’s
|
Homewood, AL | (b) |
|
|
|
|
|
|
|
|
(e) | 11/25/2019 | (e) | |||||||||||||||||||||||||||||
|
Missoula Fresh Market
|
Missoula, MT | (b) |
|
|
|
|
|
|
|
(
|
) | 1999 | 3/11/2015 |
|
||||||||||||||||||||||||||||
|
Missoula Fresh Market
|
Missoula, MT | (b) |
|
|
|
|
|
|
|
(
|
) | 2008 | 3/12/2015 |
|
||||||||||||||||||||||||||||
|
Mister Car Wash
|
Abilene, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 1993 | 4/7/2015 |
|
||||||||||||||||||||||||||||
|
Mister Car Wash
|
Casselberry, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 1988 | 2/9/2016 |
|
||||||||||||||||||||||||||||
|
Mister Car Wash
|
Ocoee, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 2009 | 5/3/2016 |
|
||||||||||||||||||||||||||||
|
Mister Car Wash
|
Orlando, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 2005 | 2/9/2016 |
|
||||||||||||||||||||||||||||
|
Mister Car Wash
|
Orlando, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 2001 | 2/9/2016 |
|
||||||||||||||||||||||||||||
|
Mister Car Wash
|
Madison, WI | (b) |
|
|
|
|
|
|
|
(
|
) | 1958 | 6/30/2015 |
|
||||||||||||||||||||||||||||
|
Mister Car Wash
|
Madison, WI | (b) |
|
|
|
|
|
|
|
(
|
) | 1961 | 6/30/2015 |
|
||||||||||||||||||||||||||||
|
Mister Car Wash
|
Madison, WI | (b) |
|
|
|
|
|
|
|
(
|
) | 1956 | 6/30/2015 |
|
||||||||||||||||||||||||||||
|
Mister Car Wash
|
Rockford, IL | (b) |
|
|
|
|
|
|
|
(
|
) | 1959 | 6/30/2015 |
|
||||||||||||||||||||||||||||
|
Mister Car Wash
|
Saint Paul, MN | (b) |
|
|
|
|
|
|
|
(
|
) | 1966 | 12/13/2016 |
|
||||||||||||||||||||||||||||
|
Mister Car Wash
|
Edgewater, MD | (b) |
|
|
|
|
|
|
|
(
|
) | 2005 | 1/21/2015 |
|
||||||||||||||||||||||||||||
|
Mister Car Wash
|
Millersville, MD | (b) |
|
|
|
|
|
|
|
(
|
) | 2007 | 1/21/2015 |
|
||||||||||||||||||||||||||||
|
Mister Car Wash
|
Nampa, ID | (b) |
|
|
|
|
|
|
|
(
|
) | 2010 | 5/15/2013 |
|
||||||||||||||||||||||||||||
|
Mister Car Wash
|
Meridian, ID | (b) |
|
|
|
|
|
|
|
(
|
) | 2006 | 5/15/2013 |
|
||||||||||||||||||||||||||||
|
Mister Car Wash
|
Boise, ID | (b) |
|
|
|
|
|
|
|
(
|
) | (e) | 5/15/2013 | (e) | ||||||||||||||||||||||||||||
|
Mister Car Wash
|
Boise, ID | (b) |
|
|
|
|
|
|
|
(
|
) | 2004 | 5/15/2013 |
|
||||||||||||||||||||||||||||
|
Mister Car Wash
|
Round Rock, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 2009 | 5/7/2015 |
|
||||||||||||||||||||||||||||
|
Mister Car Wash
|
Houston, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 1991 | 11/25/2019 |
|
||||||||||||||||||||||||||||
|
Mojo Grill
|
Leesburg, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 1996 | 10/26/2018 |
|
||||||||||||||||||||||||||||
|
Monterey’s Tex Mex
|
Bryan, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 1988 | 11/25/2019 |
|
||||||||||||||||||||||||||||
|
Mountainside Fitness
|
Chandler, AZ | (b) |
|
|
|
|
|
|
|
(
|
) | 2002 | 11/25/2019 |
|
||||||||||||||||||||||||||||
|
Mr. Clean/Jiffy Lube
|
Lawrenceville, GA | (b) |
|
|
|
|
|
|
|
(
|
) | 1996 | 9/11/2019 |
|
||||||||||||||||||||||||||||
|
Mr. Clean/Jiffy Lube
|
Canton, GA | (b) |
|
|
|
|
|
|
|
(
|
) | 1998 | 9/11/2019 |
|
||||||||||||||||||||||||||||
|
NextCare Urgent Care
|
Round Rock, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 1985 | 8/18/2014 |
|
||||||||||||||||||||||||||||
|
Northern Tool & Equipment
|
Blaine, MN | (b) |
|
|
|
|
|
|
|
(
|
) | 2006 | 7/17/2013 |
|
||||||||||||||||||||||||||||
|
Off Lease Only
|
West Palm Beach, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 2016 | 9/9/2020 |
|
||||||||||||||||||||||||||||
|
Off Lease Only
|
North Lauderdale, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 1988 | 9/9/2020 |
|
||||||||||||||||||||||||||||
|
Off Lease Only
|
Orlando, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 2019 | 9/9/2020 |
|
||||||||||||||||||||||||||||
|
Office Depot
|
Dayton, OH | (b) |
|
|
|
|
|
|
|
(
|
) | 2005 | 7/17/2013 |
|
||||||||||||||||||||||||||||
|
Office Depot
|
Greenville, MS | (b) |
|
|
|
|
|
|
|
(
|
) | 2000 | 7/17/2013 |
|
||||||||||||||||||||||||||||
|
Office Depot
|
Oxford, MS | (b) |
|
|
|
|
|
|
|
(
|
) | 2006 | 7/17/2013 |
|
||||||||||||||||||||||||||||
|
Office Depot
|
Enterprise, AL | (b) |
|
|
|
|
|
|
|
(
|
) | 2006 | 7/17/2013 |
|
||||||||||||||||||||||||||||
|
Office Depot
|
Benton, AR | (b) |
|
|
|
|
|
|
|
(
|
) | 2001 | 7/17/2013 |
|
||||||||||||||||||||||||||||
|
Initial Cost to Company
|
Cost Capitalized Subsequent to
Acquisition including
impairment
|
Gross Amount at
December 31, 2020
(d)
|
||||||||||||||||||||||||||||||||||||||||
|
Concept
|
City, State
|
Encumbrances
(c)
|
Land and
Improvements
|
Buildings and
Improvements
|
Land and
Improvements
|
Buildings and
Improvements
|
Land and
Improvements
|
Buildings and
Improvements
|
Total
|
Final
Accumulated
Depreciation
|
Date of
Construction
|
Date
Acquired
|
Life in which
depreciation in
latest
Statement of
Operations is
computed
|
|||||||||||||||||||||||||||||
|
Office Depot
|
Laurel, MS | (b) |
|
|
|
|
|
|
|
(
|
) | 2002 | 7/17/2013 |
|
||||||||||||||||||||||||||||
|
Office Depot
|
Morrisville, NC | (b) |
|
|
|
|
|
|
|
(
|
) | 2008 | 7/17/2013 |
|
||||||||||||||||||||||||||||
|
Office Depot
|
Balcones Heights, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 2009 | 7/17/2013 |
|
||||||||||||||||||||||||||||
|
Office Depot (f)
|
Alcoa, TN | (b) |
|
|
|
|
|
|
|
(
|
) | 1999 | 7/17/2013 |
|
||||||||||||||||||||||||||||
|
OfficeMax
|
Orangeburg, SC | (b) |
|
|
|
|
|
|
|
(
|
) | 1999 | 7/17/2013 |
|
||||||||||||||||||||||||||||
|
Ogden Clinic
|
Ogden, UT | (b) |
|
|
|
|
|
|
|
(
|
) | 1985 | 8/18/2014 |
|
||||||||||||||||||||||||||||
|
Ojos Locos Sports Cantina
|
El Paso, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 2014 | 4/15/2015 |
|
||||||||||||||||||||||||||||
|
Old Time Pottery
|
Fairview Heights, IL | (b) |
|
|
(
|
) |
(
|
) |
|
|
|
(
|
) | 1990 | 7/17/2013 |
|
||||||||||||||||||||||||||
|
Old Time Pottery
|
Foley, AL | (b) |
|
|
|
|
|
|
|
(
|
) | 1994 | 5/8/2015 |
|
||||||||||||||||||||||||||||
|
Old Time Pottery
|
Murfreesboro, TN | (b) |
|
|
|
|
|
|
|
(
|
) | 1985 | 2/25/2015 |
|
||||||||||||||||||||||||||||
|
O’Reilly Auto Parts
|
Pea Ridge, AR | (b) |
|
|
|
|
|
|
|
|
(e) | 11/25/2019 | (e) | |||||||||||||||||||||||||||||
|
Panera
|
Spartanburg, SC | (b) |
|
|
|
|
|
|
|
(
|
) | 1999 | 7/17/2013 |
|
||||||||||||||||||||||||||||
|
Party City
|
Eden Prairie, MN | (b) |
|
|
|
|
|
|
|
(
|
) | 1991 | 6/28/2019 |
|
||||||||||||||||||||||||||||
|
Party City
|
Los Lunas, NM | (b) |
|
|
|
|
|
|
|
(
|
) | 2015 | 6/28/2019 |
|
||||||||||||||||||||||||||||
|
Party City
|
Chester, NY | (b) |
|
|
|
|
|
|
|
(
|
) | 2006 | 6/28/2019 |
|
||||||||||||||||||||||||||||
|
Pawn I
|
Caldwell, ID | (b) |
|
|
|
|
|
|
|
(
|
) | 2009 | 7/31/2015 |
|
||||||||||||||||||||||||||||
|
Pawn I
|
Spokane, WA | (b) |
|
|
|
|
|
|
|
(
|
) | 1994 | 7/31/2015 |
|
||||||||||||||||||||||||||||
|
Pep Boys
|
West Warwick, RI | (b) |
|
|
|
|
|
|
|
(
|
) | 1993 | 7/17/2013 |
|
||||||||||||||||||||||||||||
|
Pep Boys
|
Tamarac, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 1997 | 7/17/2013 |
|
||||||||||||||||||||||||||||
|
Pep Boys
|
Lakeland, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 1991 | 7/17/2013 |
|
||||||||||||||||||||||||||||
|
Pep Boys
|
El Centro, CA | (b) |
|
|
|
|
|
|
|
(
|
) | 1998 | 7/17/2013 |
|
||||||||||||||||||||||||||||
|
Pep Boys
|
Frederick, MD | (b) |
|
|
|
|
|
|
|
(
|
) | 1987 | 7/17/2013 |
|
||||||||||||||||||||||||||||
|
Pep Boys
|
Clarksville, IN | (b) |
|
|
|
|
|
|
|
(
|
) | 1993 | 7/17/2013 |
|
||||||||||||||||||||||||||||
|
Pep Boys
|
Orem, UT | (b) |
|
|
|
|
|
|
|
(
|
) | 1990 | 7/17/2013 |
|
||||||||||||||||||||||||||||
|
Pep Boys
|
Pasadena, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 1995 | 7/17/2013 |
|
||||||||||||||||||||||||||||
|
Pep Boys
|
Hampton, VA | (b) |
|
|
|
|
|
|
|
(
|
) | 1993 | 7/17/2013 |
|
||||||||||||||||||||||||||||
|
Pep Boys
|
Arlington Heights, IL | (b) |
|
|
|
|
|
|
|
(
|
) | 1995 | 7/17/2013 |
|
||||||||||||||||||||||||||||
|
Pep Boys
|
Albuquerque, NM | (b) |
|
|
|
|
|
|
|
(
|
) | 1990 | 7/17/2013 |
|
||||||||||||||||||||||||||||
|
Pep Boys
|
Colorado Springs, CO | (b) |
|
|
|
|
|
|
|
(
|
) | 1994 | 7/17/2013 |
|
||||||||||||||||||||||||||||
|
PetSmart
|
Chattanooga, TN | (a) |
|
|
|
|
|
|
|
(
|
) | 1996 | 7/17/2013 |
|
||||||||||||||||||||||||||||
|
PetSmart
|
Daytona Beach, FL | (a) |
|
|
|
|
|
|
|
(
|
) | 1996 | 7/17/2013 |
|
||||||||||||||||||||||||||||
|
PetSmart
|
Fredericksburg, VA | (a) |
|
|
|
|
|
|
|
(
|
) | 1997 | 7/17/2013 |
|
||||||||||||||||||||||||||||
|
PetSuites Pet Resort & Spa
|
Bradenton, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 2018 | 3/29/2019 |
|
||||||||||||||||||||||||||||
|
Pioneer Seeds
|
Maxton, NC | (b) |
|
|
|
|
|
|
|
(
|
) | 2016 | 12/16/2016 |
|
||||||||||||||||||||||||||||
|
Planet Fitness
|
Mesquite, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 1986 | 1/15/2016 |
|
||||||||||||||||||||||||||||
|
Planet Fitness
|
Phoenix, AZ | (b) |
|
|
|
|
|
|
|
(
|
) | 1988 | 9/30/2014 |
|
||||||||||||||||||||||||||||
|
Planet Fitness
|
Burnsville, MN | (b) |
|
|
|
|
|
|
|
(
|
) | 1978 | 4/15/2016 |
|
||||||||||||||||||||||||||||
|
Initial Cost to Company
|
Cost Capitalized Subsequent to
Acquisition including
impairment
|
Gross Amount at
December 31, 2020
(d)
|
||||||||||||||||||||||||||||||||||||||||
|
Concept
|
City, State
|
Encumbrances
(c)
|
Land and
Improvements
|
Buildings and
Improvements
|
Land and
Improvements
|
Buildings and
Improvements
|
Land and
Improvements
|
Buildings and
Improvements
|
Total
|
Final
Accumulated
Depreciation
|
Date of
Construction
|
Date
Acquired
|
Life in which
depreciation in
latest
Statement of
Operations is
computed
|
|||||||||||||||||||||||||||||
|
Popeye’s Chicken & Biscuits
|
Bartlett, TN | (b) |
|
|
|
|
|
|
|
(
|
) | 1985 | 11/25/2019 |
|
||||||||||||||||||||||||||||
|
Popeye’s Chicken & Biscuits
|
Memphis, TN | (b) |
|
|
|
|
|
|
|
(
|
) | 2004 | 11/25/2019 |
|
||||||||||||||||||||||||||||
|
Popeye’s Chicken & Biscuits
|
Holly Springs, MS | (b) |
|
|
|
|
|
|
|
(
|
) | 1998 | 11/25/2019 |
|
||||||||||||||||||||||||||||
|
Popeye’s Chicken & Biscuits
|
Collierville, TN | (b) |
|
|
|
|
|
|
|
(
|
) | 2000 | 11/25/2019 |
|
||||||||||||||||||||||||||||
|
Popeye’s Chicken & Biscuits
|
Nashville, TN | (b) |
|
|
|
|
|
|
|
(
|
) | 1975 | 11/25/2019 |
|
||||||||||||||||||||||||||||
|
Popeye’s Chicken & Biscuits
|
Horn Lake, MS | (b) |
|
|
|
|
|
|
|
(
|
) | 1994 | 11/25/2019 |
|
||||||||||||||||||||||||||||
|
Popeye’s Chicken & Biscuits
|
Nashville, TN | (b) |
|
|
|
|
|
|
|
(
|
) | 1988 | 11/25/2019 |
|
||||||||||||||||||||||||||||
|
PriMed Physicians
|
Beavercreek, OH | (b) |
|
|
|
|
|
|
|
(
|
) | 1985 | 8/18/2014 |
|
||||||||||||||||||||||||||||
|
Progressive Medical Center
|
Dunwoody, GA | (b) |
|
|
|
|
|
|
|
(
|
) | 1988 | 10/27/2016 |
|
||||||||||||||||||||||||||||
|
Rally’s
|
Marion, IN | (b) |
|
|
(
|
) |
(
|
) |
|
|
|
(
|
) | 1990 | 11/25/2019 |
|
||||||||||||||||||||||||||
|
Raymour & Flanigan Furniture
|
Horseheads, NY | (b) |
|
|
|
|
|
|
|
(
|
) | 2005 | 11/25/2019 |
|
||||||||||||||||||||||||||||
|
Raymour & Flanigan Furniture
|
Johnson City, NY | (b) |
|
|
|
|
|
|
|
(
|
) | 1978 | 11/25/2019 |
|
||||||||||||||||||||||||||||
|
Red Lobster
|
Winston-Salem, NC |
(b)
|
|
|
|
|
|
|
|
(
|
) | 1998 | 12/22/2016 |
|
||||||||||||||||||||||||||||
|
Red Lobster
|
Paducah, KY | (b) |
|
|
|
|
|
|
|
(
|
) | 2013 | 12/22/2016 |
|
||||||||||||||||||||||||||||
|
Red Lobster
|
Monroeville, PA | (b) |
|
|
|
|
|
|
|
(
|
) | 2009 | 12/22/2016 |
|
||||||||||||||||||||||||||||
|
Red Lobster
|
Rockford, IL | (b) |
|
|
|
|
|
|
|
(
|
) | 1977 | 12/22/2016 |
|
||||||||||||||||||||||||||||
|
Red Lobster
|
Zanesville, OH | (b) |
|
|
|
|
|
|
|
(
|
) | 1992 | 12/22/2016 |
|
||||||||||||||||||||||||||||
|
Red Lobster
|
Duluth, GA | (b) |
|
|
|
|
|
|
|
(
|
) | 1984 | 12/22/2016 |
|
||||||||||||||||||||||||||||
|
Red Lobster
|
Stillwater, OK | (b) |
|
|
|
|
|
|
|
(
|
) | 1995 | 12/23/2014 |
|
||||||||||||||||||||||||||||
|
Red Lobster
|
Salina, KS | (b) |
|
|
|
|
|
|
|
(
|
) | 1994 | 12/23/2014 |
|
||||||||||||||||||||||||||||
|
Red Lobster
|
Albany, GA | (b) |
|
|
|
|
|
|
|
(
|
) | 1971 | 12/23/2014 |
|
||||||||||||||||||||||||||||
|
Red Lobster
|
Meadville, PA | (b) |
|
|
|
|
|
|
|
(
|
) | 1991 | 12/23/2014 |
|
||||||||||||||||||||||||||||
|
Red Lobster
|
Aurora, CO | (b) |
|
|
|
|
|
|
|
(
|
) | 1974 | 12/23/2014 |
|
||||||||||||||||||||||||||||
|
Red Lobster
|
Tullahoma, TN | (b) |
|
|
|
|
|
|
|
(
|
) | 1996 | 12/23/2014 |
|
||||||||||||||||||||||||||||
|
Red Lobster
|
Bradley, IL | (b) |
|
|
|
|
|
|
|
(
|
) | 1991 | 12/23/2014 |
|
||||||||||||||||||||||||||||
|
Red Lobster
|
Bloomington, IL | (b) |
|
|
|
|
|
|
|
(
|
) | 1975 | 12/23/2014 |
|
||||||||||||||||||||||||||||
|
Red Lobster
|
Monroe, MI | (b) |
|
|
|
|
|
|
|
(
|
) | 1996 | 12/23/2014 |
|
||||||||||||||||||||||||||||
|
Red Lobster
|
Tifton, GA | (b) |
|
|
|
|
|
|
|
(
|
) | 1995 | 12/23/2014 |
|
||||||||||||||||||||||||||||
|
Red Lobster
|
Adrian, MI | (b) |
|
|
|
|
|
|
|
(
|
) | 1991 | 12/23/2014 |
|
||||||||||||||||||||||||||||
|
Red Lobster
|
Lewiston, ID | (b) |
|
|
|
|
|
|
|
(
|
) | 1996 | 12/23/2014 |
|
||||||||||||||||||||||||||||
|
Red Lobster
|
Findlay, OH | (b) |
|
|
|
|
|
|
|
(
|
) | 1991 | 12/23/2014 |
|
||||||||||||||||||||||||||||
|
Red Lobster
|
Council Bluffs, IA | (b) |
|
|
|
|
|
|
|
(
|
) | 1995 | 12/23/2014 |
|
||||||||||||||||||||||||||||
|
Red Lobster
|
Columbus, GA | (b) |
|
|
|
|
|
|
|
(
|
) | 2003 | 12/23/2014 |
|
||||||||||||||||||||||||||||
|
Red Lobster
|
Indianapolis, IN | (b) |
|
|
|
|
|
|
|
(
|
) | 1992 | 12/23/2014 |
|
||||||||||||||||||||||||||||
|
Red Lobster
|
Oxford, AL | (b) |
|
|
|
|
|
|
|
(
|
) | 1991 | 12/23/2014 |
|
||||||||||||||||||||||||||||
|
Red Lobster
|
Waterford, MI | (b) |
|
|
|
|
|
|
|
(
|
) | 1997 | 2/10/2015 |
|
||||||||||||||||||||||||||||
|
Red Mesa Grill
|
Traverse City, MI | (b) |
|
|
|
|
|
|
|
(
|
) | 2004 | 11/9/2015 |
|
||||||||||||||||||||||||||||
|
Initial Cost to Company
|
Cost Capitalized Subsequent to
Acquisition including
impairment
|
Gross Amount at
December 31, 2020
(d)
|
||||||||||||||||||||||||||||||||||||||||
|
Concept
|
City, State
|
Encumbrances
(c)
|
Land and
Improvements
|
Buildings and
Improvements
|
Land and
Improvements
|
Buildings and
Improvements
|
Land and
Improvements
|
Buildings and
Improvements
|
Total
|
Final
Accumulated
Depreciation
|
Date of
Construction
|
Date
Acquired
|
Life in which
depreciation in
latest
Statement of
Operations is
computed
|
|||||||||||||||||||||||||||||
|
Red Mesa Grill
|
Boyne City, MI | (b) |
|
|
|
|
|
|
|
(
|
) | 1997 | 11/9/2015 |
|
||||||||||||||||||||||||||||
|
Red Mesa Grill
|
Elk Rapids, MI | (b) |
|
|
|
|
|
|
|
(
|
) | 1998 | 11/9/2015 |
|
||||||||||||||||||||||||||||
|
Regal Cinemas
|
Carrollton, GA | (b) |
|
|
|
|
|
|
|
(
|
) | 2005 | 12/30/2014 |
|
||||||||||||||||||||||||||||
|
Regal Cinemas
|
Dawsonville, GA | (b) |
|
|
|
|
|
|
|
(
|
) | 2005 | 12/30/2014 |
|
||||||||||||||||||||||||||||
|
Regal Cinemas
|
Gainesville, GA | (b) |
|
|
|
|
|
|
|
(
|
) | 1996 | 12/30/2014 |
|
||||||||||||||||||||||||||||
|
Regal Cinemas
|
Woodstock, GA | (b) |
|
|
|
|
|
|
|
(
|
) | 1997 | 12/30/2014 |
|
||||||||||||||||||||||||||||
|
Regal Cinemas
|
Griffin, GA | (b) |
|
|
|
|
|
|
|
(
|
) | 2005 | 12/30/2014 |
|
||||||||||||||||||||||||||||
|
Regal Cinemas
|
Omaha, NE | (b) |
|
|
|
|
|
|
|
(
|
) | 2006 | 3/26/2015 |
|
||||||||||||||||||||||||||||
|
Regal Cinemas
|
Avon, IN | (b) |
|
|
|
|
|
|
|
(
|
) | 1995 | 3/1/2016 |
|
||||||||||||||||||||||||||||
|
Regal Cinemas
|
Bowie, MD | (b) |
|
|
|
|
|
|
|
(
|
) | 1998 | 11/23/2016 |
|
||||||||||||||||||||||||||||
|
Renaissance Food
|
Houston, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 2016 | 12/3/2019 |
|
||||||||||||||||||||||||||||
|
Repair One
|
Port Orange, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 1997 | 11/25/2019 |
|
||||||||||||||||||||||||||||
|
Residence Inn by Marriott
|
Cape Canaveral, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 2006 | 3/28/2019 |
|
||||||||||||||||||||||||||||
|
Rite Aid
|
Wauseon, OH | (b) |
|
|
|
|
|
|
|
(
|
) | 2005 | 7/17/2013 |
|
||||||||||||||||||||||||||||
|
Rite Aid
|
Fremont, OH | (b) |
|
|
(
|
) |
(
|
) |
|
|
|
(
|
) | 1998 | 7/17/2013 |
|
||||||||||||||||||||||||||
|
Rite Aid
|
Defiance, OH | (b) |
|
|
|
|
|
|
|
(
|
) | 2005 | 7/17/2013 |
|
||||||||||||||||||||||||||||
|
Rite Aid
|
Glassport, PA | (b) |
|
|
|
|
|
|
|
(
|
) | 2006 | 7/17/2013 |
|
||||||||||||||||||||||||||||
|
Rite Aid
|
Easton, PA | (b) |
|
|
|
|
|
|
|
(
|
) | 2006 | 7/17/2013 |
|
||||||||||||||||||||||||||||
|
Rite Aid
|
Plains, PA | (b) |
|
|
|
|
|
|
|
(
|
) | 2006 | 7/17/2013 |
|
||||||||||||||||||||||||||||
|
Rite Aid
|
Lima, OH | (b) |
|
|
|
|
|
|
|
(
|
) | 2005 | 7/17/2013 |
|
||||||||||||||||||||||||||||
|
Rite Aid
|
Fredericksburg, VA | (b) |
|
|
|
|
|
|
|
(
|
) | 2006 | 7/17/2013 |
|
||||||||||||||||||||||||||||
|
Rite Aid
|
Vineland, NJ | (b) |
|
|
|
|
|
|
|
(
|
) | 1997 | 7/17/2013 |
|
||||||||||||||||||||||||||||
|
Rite Aid
|
Mantua, NJ | (b) |
|
|
|
|
|
|
|
(
|
) | 1993 | 7/17/2013 |
|
||||||||||||||||||||||||||||
|
Ross (f)
|
Victoria, TX | (b) |
|
|
|
(
|
) |
|
|
|
(
|
) | 2006 | 7/17/2013 |
|
|||||||||||||||||||||||||||
|
Ruth’s Chris Steakhouse
|
Sarasota, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 2000 | 7/17/2013 |
|
||||||||||||||||||||||||||||
|
Ruth’s Chris Steakhouse
|
Metairie, LA | (a) |
|
|
|
|
|
|
|
(
|
) | 1964 | 7/17/2013 |
|
||||||||||||||||||||||||||||
|
Ryan’s
|
Bowling Green, KY | (b) |
|
|
(
|
) |
(
|
) |
|
|
|
(
|
) | 1997 | 7/17/2013 |
|
||||||||||||||||||||||||||
|
Ryan’s
|
Lake Charles, LA | (b) |
|
|
|
|
|
|
|
(
|
) | 1987 | 7/17/2013 |
|
||||||||||||||||||||||||||||
|
Ryan’s
|
Picayune, MS | (b) |
|
|
|
|
|
|
|
(
|
) | 1999 | 7/17/2013 |
|
||||||||||||||||||||||||||||
|
Ryerson
|
Little Rock, AR | (b) |
|
|
|
|
|
|
|
(
|
) | 1994 | 12/20/2019 |
|
||||||||||||||||||||||||||||
|
Ryerson
|
Lancaster, NY | (b) |
|
|
(
|
) |
|
|
|
|
(
|
) | 2002 | 12/20/2019 |
|
|||||||||||||||||||||||||||
|
Ryerson
|
Lavonia, GA | (b) |
|
|
|
(
|
) |
|
|
|
(
|
) | 1960 | 12/20/2019 |
|
|||||||||||||||||||||||||||
|
Ryerson
|
Carrollton, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 1981 | 12/20/2019 |
|
||||||||||||||||||||||||||||
|
Ryerson
|
Hilliard, OH | (b) |
|
|
|
|
|
|
|
(
|
) | 1973 | 12/20/2019 |
|
||||||||||||||||||||||||||||
|
Ryerson
|
Pounding Mill, VA | (b) |
|
|
(
|
) |
|
|
|
|
(
|
) | 1982 | 12/20/2019 |
|
|||||||||||||||||||||||||||
|
Ryerson
|
Spokane, WA | (b) |
|
|
|
|
|
|
|
(
|
) | 1949 | 12/20/2019 |
|
||||||||||||||||||||||||||||
|
Ryerson
|
Phoenix, AZ | (b) |
|
|
|
(
|
) |
|
|
|
(
|
) | 1935 | 12/20/2019 |
|
|||||||||||||||||||||||||||
|
Initial Cost to Company
|
Cost Capitalized Subsequent to
Acquisition including
impairment
|
Gross Amount at
December 31, 2020
(d)
|
||||||||||||||||||||||||||||||||||||||||
|
Concept
|
City, State
|
Encumbrances
(c)
|
Land and
Improvements
|
Buildings and
Improvements
|
Land and
Improvements
|
Buildings and
Improvements
|
Land and
Improvements
|
Buildings and
Improvements
|
Total
|
Final
Accumulated
Depreciation
|
Date of
Construction
|
Date
Acquired
|
Life in which
depreciation in
latest
Statement of
Operations is
computed
|
|||||||||||||||||||||||||||||
|
Ryerson
|
Strongsville, OH | (b) |
|
|
|
|
|
|
|
(
|
) | 1990 | 12/20/2019 |
|
||||||||||||||||||||||||||||
|
Sagebrush
|
Tulsa, OK | (b) |
|
|
|
|
|
|
|
(
|
) | 1987 | 11/23/2020 |
|
||||||||||||||||||||||||||||
|
Sagebrush
|
Tulsa, OK | (b) |
|
|
|
|
|
|
|
(
|
) | 1993 | 11/23/2020 |
|
||||||||||||||||||||||||||||
|
Saisaki Asian Bistro and Sushi
|
Newport News, VA | (b) |
|
|
|
|
|
|
|
(
|
) | 1995 | 6/25/2004 |
|
||||||||||||||||||||||||||||
|
Saltgrass
|
Plano, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 1998 | 11/25/2019 |
|
||||||||||||||||||||||||||||
|
Same Day Delivery
|
Walker, MI | (a) |
|
|
(
|
) |
(
|
) |
|
|
|
(
|
) | 2001 | 7/17/2013 |
|
||||||||||||||||||||||||||
|
Sam’s Club
|
Anderson, SC | (b) |
|
|
|
|
|
|
|
(
|
) | 1993 | 7/17/2013 |
|
||||||||||||||||||||||||||||
|
Sam’s Club
(f)
|
Littleton, CO | (b) |
|
|
|
|
|
|
|
(
|
) | 1991 | 7/17/2013 |
|
||||||||||||||||||||||||||||
|
Serrano’s Mexican Restaurant
|
Mesa, AZ | (b) |
|
|
|
|
|
|
|
(
|
) | 1990 | 6/14/2013 |
|
||||||||||||||||||||||||||||
|
Serrano’s Mexican Restaurant
|
Queen Creek, AZ | (b) |
|
|
|
|
|
|
|
(
|
) | 2004 | 6/14/2013 |
|
||||||||||||||||||||||||||||
|
Service King
|
Clarksville, TN | (b) |
|
|
|
|
|
|
|
(
|
) | 2000 | 11/25/2019 |
|
||||||||||||||||||||||||||||
|
Service King
|
Madison, TN | (b) |
|
|
|
|
|
|
|
(
|
) | 2000 | 11/25/2019 |
|
||||||||||||||||||||||||||||
|
Service King
|
Nashville, TN | (b) |
|
|
|
|
|
|
|
(
|
) | 2000 | 11/25/2019 |
|
||||||||||||||||||||||||||||
|
Sheffield Pharmaceuticals
|
Norwich, CT | (b) |
|
|
|
|
|
|
|
(
|
) | 1975 | 6/30/2016 |
|
||||||||||||||||||||||||||||
|
Shooters World
|
Orlando, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 2018 | 1/26/2018 |
|
||||||||||||||||||||||||||||
|
Shooters World
|
Tampa, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 1990 | 6/5/2015 |
|
||||||||||||||||||||||||||||
| Shutterfly | Plano, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 2020 | 9/15/2020 |
|
||||||||||||||||||||||||||||
| Skyline Chili | Fairborn, OH | (b) |
|
|
|
|
|
|
|
(
|
) | 1998 | 11/25/2019 |
|
||||||||||||||||||||||||||||
| Skyline Chili | Lewis Center, OH | (b) |
|
|
|
|
|
|
|
(
|
) | 1998 | 11/25/2019 |
|
||||||||||||||||||||||||||||
| Slim Chickens | Texarkana, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 2013 | 11/25/2019 |
|
||||||||||||||||||||||||||||
| Slim Chickens | Stillwater, OK | (b) |
|
|
|
|
|
|
|
(
|
) | 2015 | 3/31/2015 |
|
||||||||||||||||||||||||||||
| Smart & Final | El Cajon, CA | (b) |
|
|
|
|
|
|
|
(
|
) | 1997 | 3/16/2015 |
|
||||||||||||||||||||||||||||
| Smart & Final | Palmdale, CA | (b) |
|
|
|
|
|
|
|
(
|
) | 2005 | 3/23/2015 |
|
||||||||||||||||||||||||||||
| Smokey Bones Barbecue & Grill | Orlando, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 2002 | 12/31/2007 |
|
||||||||||||||||||||||||||||
| Smokey Bones Barbecue & Grill | Fairview Heights, IL | (b) |
|
|
|
|
|
|
|
(
|
) | 1972 | 12/31/2007 |
|
||||||||||||||||||||||||||||
| Smokey Bones Barbecue & Grill | Springfield, IL | (b) |
|
|
|
|
|
|
|
(
|
) | 1996 | 12/31/2007 |
|
||||||||||||||||||||||||||||
| Smokey Bones Barbecue & Grill | Warwick, RI | (b) |
|
|
|
|
|
|
|
(
|
) | 1990 | 12/31/2007 |
|
||||||||||||||||||||||||||||
| Smokey Bones Barbecue & Grill | Mentor, OH | (b) |
|
|
|
|
|
|
|
(
|
) | 2003 | 12/31/2007 |
|
||||||||||||||||||||||||||||
| Smokey Bones Barbecue & Grill | Bowie, MD | (b) |
|
|
|
|
|
|
|
(
|
) | 2004 | 12/31/2007 |
|
||||||||||||||||||||||||||||
| Smokey Bones Barbecue & Grill | Melbourne, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 1986 | 12/31/2007 |
|
||||||||||||||||||||||||||||
| Smokey Bones Barbecue & Grill | Fort Wayne, IN | (b) |
|
|
|
|
|
|
|
(
|
) | 2003 | 12/31/2007 |
|
||||||||||||||||||||||||||||
| Smokey Bones Barbecue & Grill | Greensboro, NC | (b) |
|
|
|
|
|
|
|
(
|
) | 2003 | 12/31/2007 |
|
||||||||||||||||||||||||||||
| Smokey Bones Barbecue & Grill | Dayton, OH | (b) |
|
|
|
|
|
|
|
(
|
) | 2002 | 12/31/2007 |
|
||||||||||||||||||||||||||||
| Smokey Bones Barbecue & Grill | Pittsburgh, PA | (b) |
|
|
|
|
|
|
|
(
|
) | 2006 | 12/31/2007 |
|
||||||||||||||||||||||||||||
| Smokey Bones Barbecue & Grill | Colonie, NY | (b) |
|
|
(
|
) |
(
|
) |
|
|
|
(
|
) | 1994 | 12/31/2007 |
|
||||||||||||||||||||||||||
| Smokey Bones Barbecue & Grill | Clearwater, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 2004 | 12/31/2007 |
|
||||||||||||||||||||||||||||
| Smoothie King | Memphis, TN | (b) |
|
|
|
|
|
|
|
(
|
) | 2007 | 7/17/2013 |
|
||||||||||||||||||||||||||||
|
Initial Cost to Company
|
Cost Capitalized Subsequent to
Acquisition including
impairment
|
Gross Amount at
December 31, 2020
(d)
|
||||||||||||||||||||||||||||||||||||||||
|
Concept
|
City, State
|
Encumbrances
(c)
|
Land and
Improvements
|
Buildings and
Improvements
|
Land and
Improvements
|
Buildings and
Improvements
|
Land and
Improvements
|
Buildings and
Improvements
|
Total
|
Final
Accumulated
Depreciation
|
Date of
Construction
|
Date
Acquired
|
Life in which
depreciation in
latest
Statement of
Operations is
computed
|
|||||||||||||||||||||||||||||
| Sonic Drive-In | Concord, NC | (b) |
|
|
|
|
|
|
|
(
|
) | 2004 | 9/17/2013 |
|
||||||||||||||||||||||||||||
| Sonic Drive-In | Creedmoor, NC | (b) |
|
|
|
|
|
|
|
(
|
) | 2006 | 9/17/2013 |
|
||||||||||||||||||||||||||||
| Sonic Drive-In | Zebulon, NC | (b) |
|
|
|
|
|
|
|
(
|
) | 2006 | 9/17/2013 |
|
||||||||||||||||||||||||||||
| Sonic Drive-In | Salisbury, NC | (b) |
|
|
|
|
|
|
|
(
|
) | 2002 | 9/17/2013 |
|
||||||||||||||||||||||||||||
| Sonic Drive-In | Concord, NC | (b) |
|
|
|
|
|
|
|
(
|
) | 1993 | 9/17/2013 |
|
||||||||||||||||||||||||||||
| Sonic Drive-In | Kannapolis, NC | (b) |
|
|
|
|
|
|
|
(
|
) | 2001 | 9/17/2013 |
|
||||||||||||||||||||||||||||
| Sonic Drive-In | Harrisburg, NC | (b) |
|
|
|
|
|
|
|
(
|
) | 2004 | 9/17/2013 |
|
||||||||||||||||||||||||||||
| Sonic Drive-In | Albermarle, NC | (b) |
|
|
|
|
|
|
|
(
|
) | 1993 | 9/17/2013 |
|
||||||||||||||||||||||||||||
| Sonic Drive-In | Siler City, NC | (b) |
|
|
|
|
|
|
|
(
|
) | 2005 | 9/17/2013 |
|
||||||||||||||||||||||||||||
| Sonic Drive-In | Raleigh, NC | (b) |
|
|
|
|
|
|
|
(
|
) | 2008 | 9/17/2013 |
|
||||||||||||||||||||||||||||
| Sonic Drive-In | Rolesville, NC | (b) |
|
|
|
|
|
|
|
(
|
) | 2007 | 9/17/2013 |
|
||||||||||||||||||||||||||||
| Sonic Drive-In | South Hill, VA | (b) |
|
|
|
|
|
|
|
(
|
) | 2007 | 9/17/2013 |
|
||||||||||||||||||||||||||||
| Sonic Drive-In | Rockwell, NC | (b) |
|
|
|
|
|
|
|
(
|
) | 2006 | 9/17/2013 |
|
||||||||||||||||||||||||||||
| Sonic Drive-In | Aberdeen, NC | (b) |
|
|
|
|
|
|
|
(
|
) | 1994 | 9/17/2013 |
|
||||||||||||||||||||||||||||
| Sonic Drive-In | D’Iberville, MS | (b) |
|
|
|
|
|
|
|
(
|
) | 2005 | 11/25/2019 |
|
||||||||||||||||||||||||||||
| Sonic Drive-In | Hattiesburg, MS | (b) |
|
|
|
|
|
|
|
(
|
) | 2010 | 11/25/2019 |
|
||||||||||||||||||||||||||||
| Sonic Drive-In | Laurel, MS | (b) |
|
|
|
|
|
|
|
(
|
) | 1993 | 11/25/2019 |
|
||||||||||||||||||||||||||||
| Sonic Drive-In | Bay Minette, AL | (b) |
|
|
|
|
|
|
|
(
|
) | 2000 | 11/25/2019 |
|
||||||||||||||||||||||||||||
| Sonic Drive-In | Flowood, MS | (b) |
|
|
|
|
|
|
|
(
|
) | 1994 | 11/25/2019 |
|
||||||||||||||||||||||||||||
| Sonic Drive-In | Knoxville, TN | (b) |
|
|
|
|
|
|
|
(
|
) | 1987 | 11/25/2019 |
|
||||||||||||||||||||||||||||
| Sonic Drive-In | Celina, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 2003 | 7/25/2016 |
|
||||||||||||||||||||||||||||
| Sonic Drive-In | Gunter, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 2004 | 7/25/2016 |
|
||||||||||||||||||||||||||||
| Sonic Drive-In | Keene, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 2005 | 7/25/2016 |
|
||||||||||||||||||||||||||||
| Sonic Drive-In | Lavon, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 2003 | 7/25/2016 |
|
||||||||||||||||||||||||||||
| Sonic Drive-In | Leonard, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 2005 | 7/25/2016 |
|
||||||||||||||||||||||||||||
| Sonic Drive-In | Little Elm, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 2001 | 7/25/2016 |
|
||||||||||||||||||||||||||||
| Sonic Drive-In | Melissa, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 2004 | 7/25/2016 |
|
||||||||||||||||||||||||||||
| Sonic Drive-In | Pilot Point, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 2000 | 7/25/2016 |
|
||||||||||||||||||||||||||||
| Sonic Drive-In | Prosper, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 2004 | 7/25/2016 |
|
||||||||||||||||||||||||||||
| Sonic Drive-In | St. Paul, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 2003 | 7/25/2016 |
|
||||||||||||||||||||||||||||
| Sonic Drive-In | Beaumont, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 2001 | 8/31/2015 |
|
||||||||||||||||||||||||||||
| Sonic Drive-In | Port Arthur, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 2002 | 8/31/2015 |
|
||||||||||||||||||||||||||||
| Sonic Drive-In | Beaumont, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 2000 | 8/31/2015 |
|
||||||||||||||||||||||||||||
| Sonic Drive-In | Port Arthur, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 1976 | 8/31/2015 |
|
||||||||||||||||||||||||||||
| Sonic Drive-In | Beaumont, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 2007 | 8/31/2015 |
|
||||||||||||||||||||||||||||
| Sonic Drive-In | Orange, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 2007 | 8/31/2015 |
|
||||||||||||||||||||||||||||
| Sonic Drive-In | Port Arthur, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 2004 | 8/31/2015 |
|
||||||||||||||||||||||||||||
| Sonny’s BBQ | Orlando, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 1997 | 12/28/2016 |
|
||||||||||||||||||||||||||||
|
Initial Cost to Company
|
Cost Capitalized Subsequent to
Acquisition including
impairment
|
Gross Amount at
December 31, 2020
(d)
|
||||||||||||||||||||||||||||||||||||||||
|
Concept
|
City, State
|
Encumbrances
(c)
|
Land and
Improvements
|
Buildings and
Improvements
|
Land and
Improvements
|
Buildings and
Improvements
|
Land and
Improvements
|
Buildings and
Improvements
|
Total
|
Final
Accumulated
Depreciation
|
Date of
Construction
|
Date
Acquired
|
Life in which
depreciation in
latest
Statement of
Operations is
computed
|
|||||||||||||||||||||||||||||
| Sonny’s BBQ | Inverness, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 1998 | 6/9/2017 |
|
||||||||||||||||||||||||||||
| Sonny’s BBQ | Orlando, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 1998 | 12/28/2016 |
|
||||||||||||||||||||||||||||
| Sonny’s BBQ | Gainesville, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 2000 | 12/28/2016 |
|
||||||||||||||||||||||||||||
| Sonny’s BBQ | Orlando, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 2002 | 12/28/2016 |
|
||||||||||||||||||||||||||||
| Sonny’s BBQ | Gainesville, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 1984 | 12/28/2016 |
|
||||||||||||||||||||||||||||
| Sonny’s BBQ | Oviedo, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 2006 | 12/28/2016 |
|
||||||||||||||||||||||||||||
| Sonny’s BBQ | Sanford, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 1987 | 12/28/2016 |
|
||||||||||||||||||||||||||||
| South Carolina Oncology Associates | Columbia, SC | (b) |
|
|
|
|
|
|
|
(
|
) | 2003 | 12/31/2013 |
|
||||||||||||||||||||||||||||
| Southern Theatres | Mooresville, NC | (b) |
|
|
|
|
|
|
|
(
|
) | 1999 | 9/25/2014 |
|
||||||||||||||||||||||||||||
| Southern Theatres | Anderson, SC | (b) |
|
|
|
|
|
|
|
(
|
) | 2000 | 9/25/2014 |
|
||||||||||||||||||||||||||||
| Specialists in Urology | Bonita Springs, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 2006 | 8/30/2012 |
|
||||||||||||||||||||||||||||
| Specialists in Urology | Naples, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 1978 | 8/30/2012 |
|
||||||||||||||||||||||||||||
| Specialists in Urology | Bonita Springs, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 2006 | 8/30/2012 |
|
||||||||||||||||||||||||||||
| Specialists in Urology | Naples, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 2012 | 10/31/2012 |
|
||||||||||||||||||||||||||||
| Specialists in Urology | Fort Myers, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 1989 | 8/30/2012 |
|
||||||||||||||||||||||||||||
| Specialists in Urology | Naples, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 2002 | 8/30/2012 |
|
||||||||||||||||||||||||||||
| Specialists in Urology | Bonita Springs, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 2003 | 8/30/2012 |
|
||||||||||||||||||||||||||||
| Specialists in Urology | Cape Coral, FL | (b) |
|
|
(
|
) |
(
|
) |
|
|
|
(
|
) | 2011 | 8/30/2012 |
|
||||||||||||||||||||||||||
| Specialists in Urology | Kennewick, WA | (b) |
|
|
|
|
|
|
|
(
|
) | 2011 | 3/31/2016 |
|
||||||||||||||||||||||||||||
| Sportsman’s Warehouse | Thornton, CO | (b) |
|
|
|
|
|
|
|
(
|
) | 2003 | 10/15/2012 |
|
||||||||||||||||||||||||||||
| Sportsman’s Warehouse | Midvale, UT | (b) |
|
|
|
|
|
|
|
(
|
) | 2002 | 10/15/2012 |
|
||||||||||||||||||||||||||||
| Sportsman’s Warehouse | Mesa, AZ | (b) |
|
|
|
|
|
|
|
(
|
) | 2005 | 10/15/2012 |
|
||||||||||||||||||||||||||||
| Sportsman’s Warehouse | Phoenix, AZ | (b) |
|
|
|
|
|
|
|
(
|
) | 2003 | 10/15/2012 |
|
||||||||||||||||||||||||||||
| Sportsman’s Warehouse | Loveland, CO | (b) |
|
|
|
|
|
|
|
(
|
) | 2001 | 10/15/2012 |
|
||||||||||||||||||||||||||||
| Sportsman’s Warehouse | Colorado Springs, CO | (b) |
|
|
|
|
|
|
|
(
|
) | 2005 | 8/31/2016 |
|
||||||||||||||||||||||||||||
| Sportsman’s Warehouse | Williston, ND | (b) |
|
|
|
|
|
|
|
(
|
) | 2015 | 8/24/2015 |
|
||||||||||||||||||||||||||||
| Sportsman’s Warehouse | Bend, OR | (b) |
|
|
|
|
|
|
|
(
|
) | 2000 | 8/15/2013 |
|
||||||||||||||||||||||||||||
| Sportsman’s Warehouse | West Jordan, UT | (b) |
|
|
|
|
|
|
|
(
|
) | 2019 | 12/20/2019 |
|
||||||||||||||||||||||||||||
| Staples | Crossville, TN | (b) |
|
|
|
|
|
|
|
(
|
) | 2001 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Staples | Peru, IL | (b) |
|
|
|
|
|
|
|
(
|
) | 1998 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Staples | Clarksville, IN | (b) |
|
|
|
|
|
|
|
(
|
) | 2006 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Staples | Greenville, SC | (b) |
|
|
|
|
|
|
|
(
|
) | 2006 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Staples | Warsaw, IN | (b) |
|
|
|
|
|
|
|
(
|
) | 1998 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Staples | Guntersville, AL | (b) |
|
|
|
|
|
|
|
(
|
) | 2001 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Starbucks | Kingsport, TN | (b) |
|
|
|
|
|
|
|
(
|
) | 2007 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Starbucks | Bowling Green, KY | (b) |
|
|
|
|
|
|
|
(
|
) | 2007 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Starbucks | Stillwater, OK | (b) |
|
|
|
|
|
|
|
(
|
) | 2007 | 7/17/2013 |
|
||||||||||||||||||||||||||||
|
Initial Cost to Company
|
Cost Capitalized Subsequent to
Acquisition including
impairment
|
Gross Amount at
December 31, 2020
(d)
|
||||||||||||||||||||||||||||||||||||||||
|
Concept
|
City, State
|
Encumbrances
(c)
|
Land and
Improvements
|
Buildings and
Improvements
|
Land and
Improvements
|
Buildings and
Improvements
|
Land and
Improvements
|
Buildings and
Improvements
|
Total
|
Final
Accumulated
Depreciation
|
Date of
Construction
|
Date
Acquired
|
Life in which
depreciation in
latest
Statement of
Operations is
computed
|
|||||||||||||||||||||||||||||
| Starbucks | Powell, TN | (b) |
|
|
|
|
|
|
|
(
|
) | 2007 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Stater Bros. Markets | Lancaster, CA | (b) |
|
|
|
|
|
|
|
(
|
) | 1983 | 12/17/2013 |
|
||||||||||||||||||||||||||||
| Studio Movie Grill | Downey, CA | (b) |
|
|
|
|
|
|
|
(
|
) | 1997 | 9/30/2015 |
|
||||||||||||||||||||||||||||
| Studio Movie Grill | Monrovia, CA | (b) |
|
|
|
|
|
|
|
(
|
) | 2000 | 9/30/2015 |
|
||||||||||||||||||||||||||||
| Studio Movie Grill | Redlands, CA | (b) |
|
|
|
|
|
|
|
(
|
) | 1997 | 9/30/2015 |
|
||||||||||||||||||||||||||||
| Studio Movie Grill | Marietta, GA | (b) |
|
|
|
|
|
|
|
(
|
) | 1987 | 3/15/2017 |
|
||||||||||||||||||||||||||||
| Sunny Delight | Dayton, NJ | (b) |
|
|
|
|
|
|
|
(
|
) | 1975 | 10/27/2016 |
|
||||||||||||||||||||||||||||
| SuperValu | Warwick, RI | (b) |
|
|
|
|
|
|
|
(
|
) | 1992 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Taco Bell | Anderson, IN | (b) |
|
|
|
|
|
|
|
(
|
) | 1995 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Taco Bell | Brazil, IN | (b) |
|
|
|
|
|
|
|
(
|
) | 1996 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Taco Bell | Henderson, KY | (b) |
|
|
|
|
|
|
|
(
|
) | 1992 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Taco Bell | Martinsville, IN | (b) |
|
|
|
|
|
|
|
(
|
) | 1986 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Taco Bell | Princeton, IN | (b) |
|
|
|
|
|
|
|
(
|
) | 1992 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Taco Bell | Robinson, IL | (b) |
|
|
|
|
|
|
|
(
|
) | 1994 | 7/17/2013 |
|
||||||||||||||||||||||||||||
|
Taco Bell
|
Washington, IN | (b) |
|
|
|
|
|
|
|
(
|
) | 1995 | 7/17/2013 |
|
||||||||||||||||||||||||||||
|
Taco Bell
|
Moultrie, GA | (b) |
|
|
|
|
|
|
|
(
|
) | 2012 | 3/29/2013 |
|
||||||||||||||||||||||||||||
|
Taco Bell
|
Greenville, TN | (b) |
|
|
|
|
|
|
|
(
|
) | 2010 | 3/29/2013 |
|
||||||||||||||||||||||||||||
|
Taco Bell / KFC
|
Vincennes, IN | (b) |
|
|
|
|
|
|
|
(
|
) | 2000 | 7/17/2013 |
|
||||||||||||||||||||||||||||
|
Taco Bueno
|
Haltom City, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 1998 | 6/30/2016 |
|
||||||||||||||||||||||||||||
|
Taco Bueno
|
Tulsa, OK | (b) |
|
|
|
|
|
|
|
(
|
) | 1978 | 6/30/2016 |
|
||||||||||||||||||||||||||||
|
Taco Bueno
|
Abilene, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 1977 | 6/30/2016 |
|
||||||||||||||||||||||||||||
|
Taco Bueno
|
Denton, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 1995 | 6/30/2016 |
|
||||||||||||||||||||||||||||
|
Taco Bueno
|
Fort Worth, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 1999 | 6/30/2016 |
|
||||||||||||||||||||||||||||
|
Taco Bueno
|
Greenville, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 1985 | 6/30/2016 |
|
||||||||||||||||||||||||||||
|
Taco Bueno
|
Muskogee, OK | (b) |
|
|
|
|
|
|
|
(
|
) | 1985 | 6/30/2016 |
|
||||||||||||||||||||||||||||
|
Taco Bueno
|
Broken Arrow, OK | (b) |
|
|
|
|
|
|
|
(
|
) | 1986 | 6/30/2016 |
|
||||||||||||||||||||||||||||
|
Taco Bueno
|
Tulsa, OK | (b) |
|
|
|
(
|
) |
|
|
|
|
1982 | 6/30/2016 | (g) | ||||||||||||||||||||||||||||
|
Taco Bueno
|
Abilene, TX | (b) |
|
|
|
(
|
) |
|
|
|
(
|
) | 1979 | 6/30/2016 |
|
|||||||||||||||||||||||||||
|
Taco Bueno
|
Claremore, OK | (b) |
|
|
|
|
|
|
|
(
|
) | 1985 | 6/30/2016 |
|
||||||||||||||||||||||||||||
|
Taco Bueno
|
Lake Worth, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 1983 | 6/30/2016 |
|
||||||||||||||||||||||||||||
|
Taco Bueno
|
Grapevine, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 1999 | 6/30/2016 |
|
||||||||||||||||||||||||||||
|
Taco Bueno
|
Bedford, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 1977 | 6/30/2016 |
|
||||||||||||||||||||||||||||
|
Taco Bueno
|
McKinney, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 2000 | 6/30/2016 |
|
||||||||||||||||||||||||||||
|
Taco Bueno
|
Sapulpa, OK | (b) |
|
|
|
|
|
|
|
(
|
) | 1987 | 6/30/2016 |
|
||||||||||||||||||||||||||||
|
Taco Bueno
|
Arlington, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 1981 | 6/30/2016 |
|
||||||||||||||||||||||||||||
|
Taco Bueno
|
Oklahoma City, OK | (b) |
|
|
(
|
) |
(
|
) |
|
|
|
|
1984 | 6/30/2016 |
|
|||||||||||||||||||||||||||
|
Taco Bueno
|
Cedar Hill, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 2005 | 11/25/2019 |
|
||||||||||||||||||||||||||||
|
Initial Cost to Company
|
Cost Capitalized Subsequent to
Acquisition including
impairment
|
Gross Amount at
December 31, 2020
(d)
|
||||||||||||||||||||||||||||||||||||||||
|
Concept
|
City, State
|
Encumbrances
(c)
|
Land and
Improvements
|
Buildings and
Improvements
|
Land and
Improvements
|
Buildings and
Improvements
|
Land and
Improvements
|
Buildings and
Improvements
|
Total
|
Final
Accumulated
Depreciation
|
Date of
Construction
|
Date
Acquired
|
Life in which
depreciation in
latest
Statement of
Operations is
computed
|
|||||||||||||||||||||||||||||
|
Taco Bueno
|
Tulsa, OK | (b) |
|
|
|
|
|
|
|
|
1986 | 6/30/2016 | (g) | |||||||||||||||||||||||||||||
|
Ted’s Cafe Escondido
|
Broken Arrow, OK | (b) |
|
|
|
|
|
|
|
(
|
) | 2006 | 11/25/2019 |
|
||||||||||||||||||||||||||||
|
Ted’s Cafe Escondido
|
Tulsa, OK | (b) |
|
|
|
|
|
|
|
(
|
) | 2013 | 11/25/2019 |
|
||||||||||||||||||||||||||||
|
Terra Mulch Products
|
Hickory, NC | (b) |
|
|
|
|
|
|
|
(
|
) | 2006 | 5/11/2015 |
|
||||||||||||||||||||||||||||
|
Tesla
|
Maplewood, MN | (b) |
|
|
|
|
|
|
|
|
1980 | 12/22/2020 |
|
|||||||||||||||||||||||||||||
|
Texas Corral
|
Shelbyville, IN | (b) |
|
|
|
|
|
|
|
(
|
) | 2006 | 12/21/2007 |
|
||||||||||||||||||||||||||||
|
Texas Roadhouse
|
Memphis, TN | (b) |
|
|
|
|
|
|
|
(
|
) | 2005 | 11/25/2019 |
|
||||||||||||||||||||||||||||
|
The Children’s Courtyard
|
Frederick, CO | (b) |
|
|
|
|
|
|
|
(
|
) | 2003 | 3/31/2017 |
|
||||||||||||||||||||||||||||
|
The Toledo Hospital
|
Monroe, MI | (b) |
|
|
|
|
|
|
|
(
|
) | 2002 | 8/18/2014 |
|
||||||||||||||||||||||||||||
|
TI Group Automotive
|
Lavonia, GA | (b) |
|
|
|
|
|
|
|
(
|
) | 2005 | 11/19/2020 |
|
||||||||||||||||||||||||||||
|
Tire Warehouse
|
Portland, ME | (b) |
|
|
|
|
|
|
|
(
|
) | 1993 | 11/25/2019 |
|
||||||||||||||||||||||||||||
|
TJ Maxx
(f)
|
Staunton, VA | (b) |
|
|
|
|
|
|
|
(
|
) | 1988 | 7/17/2013 |
|
||||||||||||||||||||||||||||
|
Topgolf
|
Baton Rouge, LA | (b) |
|
|
|
|
|
|
|
(
|
) | 2018 | 12/10/2018 |
|
||||||||||||||||||||||||||||
|
Tower Automotive
|
Bellevue, OH | (b) |
|
|
|
|
|
|
|
(
|
) | 1990 | 1/28/2020 |
|
||||||||||||||||||||||||||||
|
Tractor Supply
|
Paw Paw, MI | (b) |
|
|
|
|
|
|
|
(
|
) | 2006 | 7/17/2013 |
|
||||||||||||||||||||||||||||
|
Tractor Supply
|
Navasota, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 2006 | 7/17/2013 |
|
||||||||||||||||||||||||||||
|
Tractor Supply
|
Baytown, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 2007 | 7/17/2013 |
|
||||||||||||||||||||||||||||
|
Tractor Supply
|
Fredericksburg, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 2007 | 7/17/2013 |
|
||||||||||||||||||||||||||||
|
Tractor Supply
|
Ashland, WI | (b) |
|
|
|
|
|
|
|
(
|
) | 1975 | 11/13/2015 |
|
||||||||||||||||||||||||||||
|
Tractor Supply
|
Liberty, KY | (b) |
|
|
|
|
|
|
|
(
|
) | 2000 | 11/13/2015 |
|
||||||||||||||||||||||||||||
|
Tractor Supply
|
La Grange, KY | (a) |
|
|
|
|
|
|
|
(
|
) | 2008 | 7/17/2013 |
|
||||||||||||||||||||||||||||
|
Tractor Supply
|
Baldwinsville, NY | (a) |
|
|
|
|
|
|
|
(
|
) | 2005 | 7/17/2013 |
|
||||||||||||||||||||||||||||
|
Tractor Supply
|
Carroll, OH | (b) |
|
|
|
|
|
|
|
(
|
) | 1976 | 7/17/2013 |
|
||||||||||||||||||||||||||||
|
Tractor Supply
|
Mount Sterling, KY | (b) |
|
|
|
|
|
|
|
(
|
) | 2011 | 7/17/2013 |
|
||||||||||||||||||||||||||||
|
Tractor Supply
|
Ellettsville, IN | (a) |
|
|
|
|
|
|
|
(
|
) | 2010 | 7/17/2013 |
|
||||||||||||||||||||||||||||
|
Tractor Supply
|
Lowville, NY | (a) |
|
|
|
|
|
|
|
(
|
) | 2010 | 7/17/2013 |
|
||||||||||||||||||||||||||||
|
Tractor Supply
|
Malone, NY | (a) |
|
|
|
|
|
|
|
(
|
) | 2010 | 7/17/2013 |
|
||||||||||||||||||||||||||||
|
Tractor Supply
|
Ankeny, IA | (b) |
|
|
|
|
|
|
|
(
|
) | 2006 | 7/17/2013 |
|
||||||||||||||||||||||||||||
|
Tractor Supply
|
Marinette, WI | (b) |
|
|
|
|
|
|
|
(
|
) | 2006 | 7/17/2013 |
|
||||||||||||||||||||||||||||
|
Tractor Supply
|
Prior Lake, MN | (b) |
|
|
|
|
|
|
|
(
|
) | 1991 | 7/17/2013 |
|
||||||||||||||||||||||||||||
|
Tractor Supply
|
Fairview, TN | (b) |
|
|
|
|
|
|
|
(
|
) | 2007 | 7/17/2013 |
|
||||||||||||||||||||||||||||
|
Tractor Supply
|
Rockford, MN | (b) |
|
|
|
|
|
|
|
(
|
) | 2007 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Tractor Supply | Rome, NY | (b) |
|
|
|
|
|
|
|
(
|
) | 2007 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Tractor Supply | Parkersburg, WV | (b) |
|
|
|
|
|
|
|
(
|
) | 2005 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Tutor Time | Grand Rapids, MI | (b) |
|
|
|
|
|
|
|
(
|
) | 2001 | 3/20/2015 |
|
||||||||||||||||||||||||||||
| Tutor Time | Pittsburgh, PA | (b) |
|
|
|
|
|
|
|
(
|
) | 1985 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Twin Peaks | Little Rock, AR | (b) |
|
|
|
|
|
|
|
|
(e) | 11/25/2019 | (e) | |||||||||||||||||||||||||||||
|
Initial Cost to Company
|
Cost Capitalized Subsequent to
Acquisition including
impairment
|
Gross Amount at
December 31, 2020
(d)
|
||||||||||||||||||||||||||||||||||||||||
|
Concept
|
City, State
|
Encumbrances
(c)
|
Land and
Improvements
|
Buildings and
Improvements
|
Land and
Improvements
|
Buildings and
Improvements
|
Land and
Improvements
|
Buildings and
Improvements
|
Total
|
Final
Accumulated
Depreciation
|
Date of
Construction
|
Date
Acquired
|
Life in which
depreciation in
latest
Statement of
Operations is
computed
|
|||||||||||||||||||||||||||||
| Twin Tiers Eye Care | Elmira, NY | (b) |
|
|
|
|
|
|
|
(
|
) | 1985 | 4/30/2015 |
|
||||||||||||||||||||||||||||
| Twin Tiers Eye Care | Binghamton, NY | (b) |
|
|
|
|
|
|
|
(
|
) | 1985 | 4/30/2015 |
|
||||||||||||||||||||||||||||
| Twin Tiers Eye Care | Bath, NY | (b) |
|
|
|
|
|
|
|
(
|
) | 1970 | 4/30/2015 |
|
||||||||||||||||||||||||||||
| Twin Tiers Eye Care | Corning, NY | (b) |
|
|
|
|
|
|
|
(
|
) | 1999 | 4/30/2015 |
|
||||||||||||||||||||||||||||
| Twin Tiers Eye Care | Endicott, NY | (b) |
|
|
|
|
|
|
|
(
|
) | 2001 | 4/30/2015 |
|
||||||||||||||||||||||||||||
| Twin Tiers Eye Care | Watkins Glen, NY | (b) |
|
|
|
|
|
|
|
(
|
) | 2002 | 4/30/2015 |
|
||||||||||||||||||||||||||||
| United Ag & Turf | Rhome, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 2006 | 1/28/2020 |
|
||||||||||||||||||||||||||||
| United Ag & Turf | Mineola, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 1981 | 1/28/2020 |
|
||||||||||||||||||||||||||||
| United Ag & Turf | Sulphur Springs, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 2003 | 1/28/2020 |
|
||||||||||||||||||||||||||||
| United Ag & Turf | Terrel, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 1981 | 1/28/2020 |
|
||||||||||||||||||||||||||||
| United Ag & Turf | Mount Pleasant, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 1993 | 1/28/2020 |
|
||||||||||||||||||||||||||||
| United Supermarkets | Childress, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 1997 | 5/23/2005 |
|
||||||||||||||||||||||||||||
| United Supermarkets | Levelland, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 1997 | 5/23/2005 |
|
||||||||||||||||||||||||||||
| United Supermarkets | Amarillo, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 1988 | 5/23/2005 |
|
||||||||||||||||||||||||||||
| United Supermarkets | Snyder, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 1999 | 5/23/2005 |
|
||||||||||||||||||||||||||||
| United Supermarkets | Amarillo, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 1989 | 5/23/2005 |
|
||||||||||||||||||||||||||||
| United Supermarkets | Muleshoe, TX | (a) |
|
|
|
|
|
|
|
(
|
) | 1999 | 8/29/2011 |
|
||||||||||||||||||||||||||||
| United Technologies Corporation | Winston-Salem, NC | (a) |
|
|
|
|
|
|
|
(
|
) | 1987 | 7/17/2013 |
|
||||||||||||||||||||||||||||
|
Universal Tax Systems
(f)
|
Kennesaw, GA | (b) |
|
|
|
|
|
|
|
(
|
) | 1996 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Vacant | St. Peters, MO | (b) |
|
|
(
|
) |
(
|
) |
|
|
|
|
2007 | 7/17/2013 |
|
|||||||||||||||||||||||||||
| Vacant | Peoria, IL | (b) |
|
|
(
|
) |
(
|
) |
|
|
|
(
|
) | 2006 | 7/17/2013 |
|
||||||||||||||||||||||||||
| Vacant | Conroe, TX | (b) |
|
|
(
|
) |
(
|
) |
|
|
|
(
|
) | 1993 | 7/17/2013 |
|
||||||||||||||||||||||||||
| Vacant | Princeton, WV | (b) |
|
|
(
|
) |
(
|
) |
|
|
|
(
|
) | 2001 | 7/17/2013 |
|
||||||||||||||||||||||||||
| Valley Surgical Center | Steubenville, OH | (b) |
|
|
|
|
|
|
|
(
|
) | 2009 | 8/18/2014 |
|
||||||||||||||||||||||||||||
| VASA Fitness | Westminster, CO | (b) |
|
|
|
|
|
|
|
(
|
) | 2000 | 11/15/2018 |
|
||||||||||||||||||||||||||||
| VASA Fitness | Taylorsville, UT | (b) |
|
|
|
|
|
|
|
(
|
) | 1988 | 11/20/2015 |
|
||||||||||||||||||||||||||||
| VASA Fitness | Oklahoma City, OK | (b) |
|
|
|
|
|
|
|
|
1988 | 12/30/2020 |
|
|||||||||||||||||||||||||||||
| Verizon | Covington, TN | (b) |
|
|
|
|
|
|
|
(
|
) | 2007 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Walgreens | Albany, GA | (b) |
|
|
|
|
|
|
|
(
|
) | 2008 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Walgreens | Columbus, MS | (b) |
|
|
|
|
|
|
|
(
|
) | 2004 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Walgreens | Seattle, WA | (b) |
|
|
|
|
|
|
|
(
|
) | 2002 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Walgreens | Crossville, TN | (b) |
|
|
|
|
|
|
|
(
|
) | 2001 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Walgreens | Jacksonville, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 2000 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Walgreens | LaMarque, TX | (a) |
|
|
|
|
|
|
|
(
|
) | 2000 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Walgreens | Tulsa, OK | (b) |
|
|
|
|
|
|
|
(
|
) | 1994 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Walgreens | Newton, IA | (a) |
|
|
|
|
|
|
|
(
|
) | 2001 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Walgreens | Evansville, IN | (a) |
|
|
|
|
|
|
|
(
|
) | 2007 | 7/17/2013 |
|
||||||||||||||||||||||||||||
|
Initial Cost to Company
|
Cost Capitalized Subsequent to
Acquisition including
impairment
|
Gross Amount at
December 31, 2020
(d)
|
||||||||||||||||||||||||||||||||||||||||
|
Concept
|
City, State
|
Encumbrances
(c)
|
Land and
Improvements
|
Buildings and
Improvements
|
Land and
Improvements
|
Buildings and
Improvements
|
Land and
Improvements
|
Buildings and
Improvements
|
Total
|
Final
Accumulated
Depreciation
|
Date of
Construction
|
Date
Acquired
|
Life in which
depreciation in
latest
Statement of
Operations is
computed
|
|||||||||||||||||||||||||||||
| Walgreens | San Antonio, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 2004 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Walgreens | Canton, IL | (b) |
|
|
|
|
|
|
|
(
|
) | 2006 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Walgreens | Memphis, TN | (b) |
|
|
|
|
|
|
|
(
|
) | 2002 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Walgreens | Parkville, MO | (b) |
|
|
|
|
|
|
|
(
|
) | 2006 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Walgreens | DeSoto, TX | (a) |
|
|
|
|
|
|
|
(
|
) | 1997 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Walgreens | Batesville, MS | (a) |
|
|
|
|
|
|
|
(
|
) | 2007 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Walgreens | Cincinnati, OH | (a) |
|
|
|
|
|
|
|
(
|
) | 2000 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Walgreens | Gainesville, FL | (b) |
|
|
|
|
|
|
|
(
|
) | 1998 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Walgreens | Madeira, OH | (b) |
|
|
|
|
|
|
|
(
|
) | 1998 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Walgreens | Houston, TX | (b) |
|
|
(
|
) |
(
|
) |
|
|
|
(
|
) | 2001 | 7/17/2013 |
|
||||||||||||||||||||||||||
| Walgreens | Dallas, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 1996 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Walgreens | Hixson, TN | (b) |
|
|
|
|
|
|
|
(
|
) | 1997 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Walgreens | Kansas City, MO | (b) |
|
|
|
|
|
|
|
(
|
) | 1997 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Walgreens | Kansas City, MO | (b) |
|
|
|
|
|
|
|
(
|
) | 1998 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Walgreens | Kansas City, MO | (b) |
|
|
|
|
|
|
|
(
|
) | 2000 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Walgreens | Kansas City, MO | (b) |
|
|
|
|
|
|
|
(
|
) | 1999 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Walgreens | Knoxville, TN | (b) |
|
|
|
|
|
|
|
(
|
) | 2000 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Walgreens | Picayune, MS | (b) |
|
|
|
|
|
|
|
(
|
) | 2006 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Walgreens | Olivette, MO | (b) |
|
|
|
|
|
|
|
(
|
) | 2001 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Walgreens | Columbia, MO | (b) |
|
|
|
|
|
|
|
(
|
) | 2002 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Walgreens | Enterprise, AL | (b) |
|
|
|
|
|
|
|
(
|
) | 2006 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Walgreens | Rome, NY | (b) |
|
|
|
|
|
|
|
(
|
) | 2007 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Walgreens | Elmira, NY | (b) |
|
|
|
|
|
|
|
(
|
) | 2007 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Walgreens | Shreveport, LA | (b) |
|
|
|
|
|
|
|
(
|
) | 1999 | 7/17/2013 |
|
||||||||||||||||||||||||||||
|
Walgreens
(f)
|
Collierville, TN | (b) |
|
|
|
(
|
) |
|
|
|
(
|
) | 2002 | 7/17/2013 |
|
|||||||||||||||||||||||||||
| Walmart | Spencer, IN | (b) |
|
|
|
|
|
|
|
(
|
) | 1987 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Walmart | New London, WI | (b) |
|
|
|
|
|
|
|
(
|
) | 1991 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Walmart | Sidney, OH | (b) |
|
|
|
|
|
|
|
(
|
) | 2001 | 1/8/2019 |
|
||||||||||||||||||||||||||||
| Wawa | Narberth, PA | (b) |
|
|
|
|
|
|
|
(
|
) | 2006 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Wawa | Manahawkin, NJ | (b) |
|
|
|
|
|
|
|
(
|
) | 2001 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Wawa | Hockessin, DE | (b) |
|
|
|
|
|
|
|
(
|
) | 2001 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Wendy’s | Greenville, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 1985 | 11/25/2019 |
|
||||||||||||||||||||||||||||
| Whirlpool | Bridgeton, MO | (b) |
|
|
|
|
|
|
|
(
|
) | 2020 | 11/10/2020 |
|
||||||||||||||||||||||||||||
| Winco Foods | Eureka, CA | (b) |
|
|
|
|
|
|
|
(
|
) | 1960 | 7/17/2013 |
|
||||||||||||||||||||||||||||
| Winsteads | Overland Park, KS | (b) |
|
|
|
|
|
|
|
(
|
) | 2009 | 11/25/2019 |
|
||||||||||||||||||||||||||||
| Yard House | Cincinnati, OH | (b) |
|
|
(
|
) |
|
|
|
|
(
|
) | 2013 | 11/25/2019 |
|
|||||||||||||||||||||||||||
| Zaxby’s | Jonesboro, GA | (b) |
|
|
(
|
) |
|
|
|
|
(
|
) | 2006 | 7/1/2015 |
|
|||||||||||||||||||||||||||
|
Initial Cost to Company
|
Cost Capitalized Subsequent to
Acquisition including
impairment
|
Gross Amount at
December 31, 2020
(d)
|
||||||||||||||||||||||||||||||||||||||||
|
Concept
|
City, State
|
Encumbrances
(c)
|
Land and
Improvements
|
Buildings and
Improvements
|
Land and
Improvements
|
Buildings and
Improvements
|
Land and
Improvements
|
Buildings and
Improvements
|
Total
|
Final
Accumulated
Depreciation
|
Date of
Construction
|
Date
Acquired
|
Life in which
depreciation in
latest
Statement of
Operations is
computed
|
|||||||||||||||||||||||||||||
| Zaxby’s | College Park, GA | (b) |
|
|
|
|
|
|
|
(
|
) | 2007 | 7/1/2015 |
|
||||||||||||||||||||||||||||
| Zaxby’s | Riverdale, GA | (b) |
|
|
|
|
|
|
|
(
|
) | 2010 | 9/17/2015 |
|
||||||||||||||||||||||||||||
| Zips Car Wash | Springdale, AR | (b) |
|
|
|
|
|
|
|
(
|
) | 2005 | 9/30/2015 |
|
||||||||||||||||||||||||||||
| Zips Car Wash | San Antonio, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 2010 | 3/29/2017 |
|
||||||||||||||||||||||||||||
| Zips Car Wash | Edmond, OK | (b) |
|
|
|
|
|
|
|
(
|
) | 2005 | 9/30/2015 |
|
||||||||||||||||||||||||||||
| Zips Car Wash | Sherwood, AR | (b) |
|
|
|
|
|
|
|
(
|
) | 2010 | 9/30/2015 |
|
||||||||||||||||||||||||||||
| Zips Car Wash | Siloam Springs, AR | (b) |
|
|
|
|
|
|
|
(
|
) | 2005 | 9/30/2015 |
|
||||||||||||||||||||||||||||
| Zips Car Wash | New Braunfels, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 2010 | 3/29/2017 |
|
||||||||||||||||||||||||||||
| Zips Car Wash | Oklahoma City, OK | (b) |
|
|
|
|
|
|
|
(
|
) | 2005 | 9/30/2015 |
|
||||||||||||||||||||||||||||
| Zips Car Wash | Arlington, TN | (b) |
|
|
|
|
|
|
|
(
|
) | 2010 | 9/30/2015 |
|
||||||||||||||||||||||||||||
| Zips Car Wash | Oklahoma City, OK | (b) |
|
|
|
|
|
|
|
(
|
) | 2005 | 9/30/2015 |
|
||||||||||||||||||||||||||||
| Zips Car Wash | Texarkana, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 2010 | 9/30/2015 |
|
||||||||||||||||||||||||||||
| Zips Car Wash | Universal City, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 2011 | 6/30/2017 |
|
||||||||||||||||||||||||||||
| Zips Car Wash | Converse, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 2011 | 3/29/2017 |
|
||||||||||||||||||||||||||||
| Zips Car Wash | Seguin, TX | (b) |
|
|
|
|
|
|
|
(
|
) | 2010 | 3/29/2017 |
|
||||||||||||||||||||||||||||
| Vacant | Grove City, OH | (a) |
|
|
(
|
) |
(
|
) |
|
|
|
(
|
) | 2008 | 7/17/2013 |
|
||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||
|
|
|
(
|
) |
|
|
|
|
(
|
) | |||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||
|
(a)
|
Represents properties collateralized with fixed CMBS debt. See Note 4 for further details.
|
|
(b)
|
Represents unencumbered properties.
|
|
(c)
|
The aggregate cost of properties for federal income tax purposes is approximately $
|
|
(d)
|
As of December 31, 2020, the Company held certain direct finance lease and held for sale properties, which are not included in the table above.
|
|
(e)
|
Represents land only properties with no depreciation and therefore date of construction and estimated life for depreciation not applicable.
|
|
(f)
|
Represents the anchor tenant by rent in a multi-tenant property.
|
|
(g)
|
Represents properties that have been fully written down and therefore estimated life for depreciation not applicable.
|
|
(h)
|
Represents one property that is under construction and therefore date of construction and estimated life for depreciation not applicable.
|
|
2020
|
2019
|
2018
|
||||||||||
|
Land, buildings, and improvements
|
||||||||||||
|
Balance at the beginning of the year
|
$ |
|
$ |
|
$ |
|
||||||
|
Additions:
|
||||||||||||
|
Acquisitions, capital expenditures, and reclassifications from held for sale and deferred financing leases
|
|
|
|
|||||||||
|
Deductions:
|
||||||||||||
|
Dispositions of land, buildings, and improvements
|
(
|
(
|
(
|
|||||||||
|
Reclassifications to held for sale
|
(
|
(
|
(
|
|||||||||
|
Impairments, basis reset due to impairment and other adjustments
|
(
|
(
|
(
|
|||||||||
|
SMTA Spin-off
|
|
|
(
|
|||||||||
|
|
|
|
|
|
|
|||||||
|
Gross Real Estate Balance at close of the year
|
$ |
|
$ |
|
$ |
|
||||||
|
|
|
|
|
|
|
|||||||
|
Accumulated depreciation and amortization
|
||||||||||||
|
Balance at the beginning of the year
|
$ |
(
|
$ |
(
|
$ |
(
|
||||||
|
Additions:
|
||||||||||||
|
Depreciation expense and reclassifications from held for sale
|
(
|
(
|
(
|
|||||||||
|
Deductions:
|
||||||||||||
|
Dispositions of land, buildings, and improvements and other adjustments
|
|
|
|
|||||||||
|
Reclassifications to held for sale
|
|
|
|
|||||||||
|
SMTA Spin-off
|
|
|
|
|||||||||
|
|
|
|
|
|
|
|||||||
|
Balance at close of the year
|
$ |
(
|
$ |
(
|
$ |
(
|
||||||
|
|
|
|
|
|
|
|||||||
|
Net Real Estate Investment
|
$ |
|
$ |
|
$ |
|
||||||
|
|
|
|
|
|
|
|||||||
|
2020
|
2019
|
2018
|
||||||||||
|
Reconciliation of Mortgage Loans on Real Estate
|
||||||||||||
|
Balance January 1,
|
$ |
|
$ |
|
$ |
|
||||||
|
Additions during period
|
||||||||||||
|
New mortgage loans
|
— | — |
|
|||||||||
|
Deductions during period
|
||||||||||||
|
Collections of principal
|
(
|
(
|
(
|
|||||||||
|
Spin-Off to SMTA
|
— | — |
(
|
|||||||||
|
Amortization of premium
|
(
|
(
|
(
|
|||||||||
|
|
|
|
|
|
|
|||||||
|
Mortgage loans receivable December 31,
|
— |
|
|
|||||||||
|
|
|
|
|
|
|
|||||||
|
Mortgage loan loss provisions
|
— | — |
|
|||||||||
|
|
|
|
|
|
|
|||||||
| — |
|
|
||||||||||
|
Equipment and other loans receivable
|
— |
|
|
|||||||||
|
Total loans receivable
|
$
|
—
|
|
$
|
|
|
$
|
|
|
|||
|
|
|
|
|
|
|
|||||||
|
SPIRIT REALTY CAPITAL, INC.
|
||
|
(Registrant)
|
||
| By: | /s/ Prakash J. Parag | |
| Name: | Prakash J. Parag | |
| Title: |
Senior Vice President and Chief Accounting Officer
(Principal Accounting Officer)
|
|
|
Name
|
Title
|
Date
|
||||
|
/s/ Jackson Hsieh
|
President, Chief Executive Officer and Director
(Principal Executive Officer)
|
February 19, 2021
|
||||
|
/s/ Michael Hughes
|
Executive Vice President and Chief Financial Officer
(Principal Financial Officer)
|
February 19, 2021
|
||||
|
/s/ Prakash J. Parag
|
Senior Vice President and Chief Accounting Officer
(Principal Accounting Officer)
|
February 19, 2021
|
||||
|
/s/ Kevin M. Charlton
|
Director
|
February 19, 2021
|
||||
|
/s/ Todd A. Dunn
|
Director
|
February 19, 2021
|
||||
|
/s/ Richard I. Gilchrist
|
Director
|
February 19, 2021
|
||||
|
/s/ Elizabeth Frank
|
Director
|
February 19, 2021
|
||||
|
/s/ Diana Laing
|
Director
|
February 19, 2021
|
||||
|
/s/ Sheli Z. Rosenberg
|
Director
|
February 19, 2021
|
||||
|
/s/ Thomas D. Senkbeil
|
Director
|
February 19, 2021
|
||||
|
/s/ Nicholas P. Shepherd
|
Director
|
February 19, 2021
|
||||
|
SPIRIT REALTY, L.P.
|
||
|
(Registrant)
|
||
|
By:
|
Spirit Realty Capital, Inc., in its capacity as sole member of Spirit General Holdings, LLC, as sole general partner and on behalf of Spirit Realty, L.P.
|
|
| By: | /s/ Prakash J. Parag | |
| Name: | Prakash J. Parag | |
| Title: |
Senior Vice President and Chief Accounting Officer
(Principal Accounting Officer)
|
|
|
Name
|
Title
|
Date
|
||||
|
/s/ Jackson Hsieh
|
President, Chief Executive Officer and Director
(Principal Executive Officer)
|
February 19, 2021
|
||||
|
/s/ Michael Hughes
|
Executive Vice President and Chief Financial Officer
(Principal Financial Officer)
|
February 19, 2021
|
||||
|
/s/ Prakash J. Parag
|
Senior Vice President and Chief Accounting Officer
(Principal Accounting Officer)
|
February 19, 2021
|
||||
|
/s/ Kevin M. Charlton
|
Director
|
February 19, 2021
|
||||
|
/s/ Todd A. Dunn
|
Director
|
February 19, 2021
|
||||
|
/s/ Richard I. Gilchrist
|
Director
|
February 19, 2021
|
||||
|
/s/ Elizabeth Frank
|
Director
|
February 19, 2021
|
||||
|
/s/ Diana Laing
|
Director
|
February 19, 2021
|
||||
|
Name
|
Title
|
Date
|
||||
|
/s/ Sheli Z. Rosenberg
|
Director
|
February 19, 2021
|
||||
|
/s/ Thomas D. Senkbeil
|
Director
|
February 19, 2021
|
||||
|
/s/ Nicholas P. Shepherd
|
Director
|
February 19, 2021
|
||||